Solar panels and inverters in 2020 are more productive per square foot of roof space in 2020. The cost of the panels is about the same but with improved production, the ROI is better. We all want cleaner energy but we don’t want a liability to achieve it. In 2020 it’s truly the best of three worlds, because of higher efficiency solar at a lower cost, low-interest loans, and the Federal ITC Tax Credit all at the same time. (Always consult a tax expert to see if you qualify for the Federal Tax Credit)
Although there will be advancements in the area of solar panels, it will be relatively slow. The primary focus in 2020 and beyond is on battery back-up systems.
There is very little payoff for a company to try and advance solar panel technology because they’re already advanced technology. The complete opposite is true with batteries, there’s tremendous potential for advancement.
A very important thing to know about solar panels is they are designed to last well in excess of 25 years. High efficiency combined with longevity equals profitable home solar.
You can find comfort in the fact that finance companies wouldn’t be financing solar for 20 years if the equipment is inefficient in any way. That’s one of the reasons why there will never be a better time to go solar.