It’s a Great Time to Buy a Photovoltaic System
There has never been a better time to purchase a photovoltaic system (PV) than the present moment and those reasons include the lowest module price in the history of such systems, high electricity rates, and tax credits that are still available to help pay for the system. The average payback period after tax credits and savings on your utility bill, is between four to five years when purchasing one of these systems.
Perhaps you have recently seen the articles regarding the default of a large loan made to an American solar company that is being investigated by the FBI? The company has fallen victim to the collapse in prices for solar modules due to discontinued financial support or subsidies in Europe, the largest market for PV up to this point. There is an over-supply that has caused the market to lower prices on modules causing manufacturers to have no profits and go into the red. The stock market prices for solar companies have plummeted and many companies probably will not survive. Consumers who have had reservations regarding the purchase of a photovoltaic system may not have a better time to do so than now, but there is some caution to be taken.
The reasons for caution are:
1. Companies have started to cut back on quality by using cheaper components such as glass, plastic backer material, thinner metal frames, and lower-quality construction practices.
2. Using lower-quality cells to place in module. Due to the high cost to manufacture cells, lower-quality cells are being used rather than rejected. Thus, bottom line cost has replaced quality as the main objective.
3. Companies going out of business or consolidating due to poor market conditions and weak financial conditions.
Pacific Islands Construction believes that now is a great time to purchase your system, but the product manufacturer you choose also is very important. The company believes that other companies such as Kyocera, which has been producing solar modules for more than 35 years, has strong financials, and produces what is the finest solar module in the industry. Independent testing performed at the Dessert Knowledge Australia Solar Centre shows Kyocera as the leading producer of energy among many of the leading solar module manufacturers. You can check out the website, www.dkasolarcentre.com.au for more information. Kyocera has one of the finest reputations for quality, durability and higher energy.
Reasons to purchase a new PV system today are as follows:
1. The existing tax credits that are available will not be here forever, which means now is the time to take advantage of them. The state of Hawaii tax credit of 35 percent of the system cost with a limit of $5,000 per system and the federal tax credit of 30 percent of the total cost are still available but may not be around much longer.
2. The cost of energy that we pay per kilo watt hour has increased from under 26 cents per kilowatt hour at the beginning of the year to more than 32 cents per kilowatt hour. If you have seen an increase in your energy bill from last year to this year, you are well aware of the sizeable increase to your electric bill. It was recently announced that HECO has filed for an additional rate increase and if approved, will increase the prices you pay for electricity even further.
3. HECO has set limits to the percentage of customers installing PV in a particular area to 15 percent of the area usage. If environmental factors were to decrease the amount of alternative energy produced within a particular zone, then HECO will need to respond by producing more energy at their plants and this might strain their capacity to respond within a short time.
The purchase of a photovoltaic system is not only a price issue. The modules also need to be installed so that during high winds, the modules stay on the roof as well as keep the home waterproofed. Many systems have over 30 penetrations into the roof and each one should be detailed in the proper way to prevent future leaks.
Contact Pacific Islands Construction by calling 841-7756 for a consultation or visiting the web-site at pacificislandsconstruction.net. The company’s goal is to provide complete satisfaction now and into the future by providing customers with the best constructed and installed solar energy system.