Thousands of words spilled out to describe the effect, Incentives for homeowners The Inflation Control Act (IRA), in particular because it is set to spur a major wave of home electrification across the country.
The IRA’s success in electrifying America will depend on the expansion of renewable energy sources such as solar and battery storage. Less debated, however, is whether or not this will succeed, as clean energy companies, including solar installers, will effectively use the provisions of the law to grow their businesses and serve the widest possible range of customers. The fact is that it depends on whether you can.
To do so, solar installers need to understand and communicate the practical changes and benefits that the IRA offers to their customers.
The three most important IRA provisions that installers must be aware of are:
Solar provides long-term certainty
We live in a time of global uncertainty, especially when it comes to energy. Global conflicts, along with long-term fluctuations in energy supply and demand, lead to price volatility.
Not just gas pumps.Electricity charges rising nationwide, doubling in some states. To keep costs down and restore some degree of energy certainty, more and more homeowners are turning to solar power and battery storage as a solution.
However, solar installers need to be able to clearly communicate to potential customers how installing panels will reduce or eliminate the risk of rising utility bills. After all, rising utility bills are no longer an issue when customers have enough sunlight to reduce their utility bills.
Thanks to the IRA, we can easily explain this case to our customers. One of the most significant provisions of the law is the 10-year extension of the 30% Solar Investment Tax Credit (ITC). Before the passage of the IRA, the ITC was 26% and will be reduced to 22% in 2023.
sell long term savings
This declining value of ITCs was a selling point for installers that could encourage potential customers to act quickly to acquire higher value ITCs, but solar installers now have 30 You get the benefits of both 100% ITC and guaranteed incentives. Installed for 10 years.
Passage of the IRA also helps with mitigation Concerns about net metering, especially in California. “At a base level, even an increase in the tax credit from 22% to 30% alone will drive sales and help offset the uncertainty in California’s proposed Net Energy Metering 3.0 decision.” said Bruce Chandler, Panasonic Solar and Storage Regional Sales Manager. Split. “The opportunities offered by the IRA seem likely to more than offset the potential downsides of Net Energy Metering 3.0 and provide growth opportunities for most installers in 2023.”
Battery incentives make resilience economically viable
Long before Hurricane Fiona destroyed power and water across Puerto Rico and Hurricane Ian devastated Florida, the effects of severe weather on power grids were evident.Ann Associated Press analysis Utility data submitted to the U.S. Department of Energy found that the number of severe weather-related outages has more than doubled since the early 2000s.
Not surprisingly, a big reason people living in areas prone to inclement weather and power outages consider buying storage is to keep electricity running when the grid goes down. However, until now there have been no tax credit incentives for the purchase of standalone storage systems. “There haven’t been many opportunities for standalone storage,” he says, Chandler.
The IRA changes this by extending the same ITC that benefits solar customers. Standalone storageThis incentive will make storage more economically attractive to customers who are only interested in backup power and to homeowners who already have solar installed and want to make their homes more resilient to power outages. make it meaningful. “Currently, most installers expect more demand from non-solar customers who want to add standalone his storage for resilience or other reasons,” he said. says Mr.
Strong partnerships help installers take advantage of IRAs
Long-term policy support is essential for significant growth of the US solar market. The IRA will extend and deepen its support. But experienced installers also know that there are many other factors that contribute to success, from hiring the right people to efficiently acquiring customers to using the best design software.
One of the key factors not to be overlooked is the importance of working with trusted and knowledgeable equipment suppliers such as: panasonic.
At the most basic level, partnering with Panasonic gives you certainty about the long-term quality of your solar panels and storage. Both of these are backed by a full parts and labor warranty. The power of a trusted brand like Panasonic goes a long way in building trust and loyalty that can keep customers completely satisfied and encourage them to refer friends and neighbors.
“We’re backing our installer network with a one-stop solution so you can get your electrified home back faster.” Leveraging our business in supporting the legacy brands we trust.”
Partnering with Panasonic ensures that your equipment is covered by the ITC. “Both Panasonic solar module When energy storage system We are eligible for a 30% tax credit under the IRA,” confirms Cody Melamed, another regional sales manager for Panasonic’s solar and storage division.
Installers have great opportunities with incentives from the IRA. The right partner can help you make the most of that opportunity.
Details of the method Panasonic as a reliable partner We can help you leverage your IRA to grow your business.
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