With solar prices following a steady downward trend, investing in solar is making more sense now than ever before. Over the last decade, the solar industry has experienced rapid growth, due, in part, to the removal of market barriers. New policies and programs, including financing options and inventive programs, are making solar more accessible and mainstream. Indeed, incentives and financing options have, and will continue to, play an integral role in making solar a more significant contributor to our energy mix (just as similar support to other energy resources has contributed to their scale-up and expansion).
What is the difference?
- Incentives can help defray the up-front cost of solar installations (and, once purchased, solar provides a steady, predictable and long-term return on that investment).
- Financing options provide a means to spread the up-front cost of solar out over time, thereby deferring the initial investment. In some cases, financing options may cover long-term O&M.
We recommend you consult with a solar industry professional, your accountant, and/or your financial advisers to determine your eligibility and get a thorough explanation of the different incentives and financing programs available (and how they all fit together).
To help you get started, we've provided a simple summary of the available incentives and financing options in Utah, along with some other helpful tools and resources.
Website content provided by Utah Clean Energy, a 501(c)3 non-profit organization working to stop energy waste, create clean energy, and build a smart energy future in Utah and the western United States.