By 2050, solar will be the largest source of electricity on the grid, experts forecast.
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Texas,CaliforniaandIndianaled the nation in new solar installation capacity during the quarter, according to the report.
Highsolar financing costs and interest ratesare to blame.
High interest rates mean higher upfront loan costs and lengthier payment plans.
Because of this, many Americans are opting to lease their solar panel systems instead.
You won’t have to deal with financing costs or interest rates, making leasing more cost-effective for some.
How can I avoid high solar costs?
Get the most bang for your buck by shopping around.
Getting multiple quotes fromsolar companiesin your area could save you thousands in the long run.
Most solar companies offer their own financing and loan options, usually referred to as asolar loan.
However, there are other ways to pay for solar panels, too.
Cash, a personal loan or ahome equity line of creditare among your options.
