Abe Issa is an entrepreneur in the solar industry. In the following article, Abe Issa discusses new storage capabilities creating boost in renewable energy.
In this day and age, making environmentally savvy choices is beneficial in more ways than one.
For individuals, choosing solar power is mindful of the natural resources that we’ve been given, but for small businesses, LLCs, and other corporations, choosing sustainability could make a difference to potential customers about where they put their business.
Abe Issa solar says that the results of a recent survey, which state that out of 70% of solar panel customers say they’re interested in solar installation, only about 18% of them actually end up going through and buying storage, may begin to shift with a new system that the IRA is implementing.
Inflation Reduction Act
Abe Issa solar explains that the Inflation Reduction Act embodies a slew of tax laws and funds that directly affect individuals and businesses. Not only will it improve the tax filing system, but it also impact the costs of healthcare, prescription drugs, and other systems…
Including systems that will make definitive changes in our environment, like solar paneling.
This act will instate that batteries don’t need to be installed or charged by solar panels to get a tax credit- all systems, regardless of size or area of installation, will have access to a 30% tax credit.
According to the White House, this means that a projected 7.5 million families have access to tax credit with installation, saving over $9 thousand over the course of the solar panel’s lifespan. This could mean somewhat of a “gold rush” as the IRA is executed over the course of a couple of years explains Abe Issa solar.
Solar Energy Storage
Prior to this act, purchasing storage in conjunction with solar paneling was a tough financial decision. Not only was it fairly costly, but businesses and individuals wouldn’t be able to get any tax credit either. This greatly impacted both the solar paneling company’s financial gain, but also the resiliency of the buyers’ investment.
Abe Issa solar says that in conjunction with more storage installation by customers, battery sales and other renewable energy resources will continue to be on the rise- which could make great environmental and fiscal impacts.
Customers considering a generator as a source of renewable energy can consider standalone storage without the hassle of payment and cost in mind. On a residential basis, this is already a major win, but it could be especially poignant for larger plots of land.
Alongside the benefits, the IRA is instilling with solar paneling, renewable energy firms are expecting to see a rise in wind-energy in conjunction with solar energy. Wind projects typically receive a production tax credit, and with an investment tax credit applicable for storage, a co-installation could be a worthwhile investment says Abe Issa solar.
What This Means for Solar Companies
Most solar energy companies have been on a consistent push to sell both solar panels and storage units as a package deal, but with the number of restrictions in line prior to the IRA deploying their latest act, making those kinds of sales were far and few between.
Without those walls, a facility can run far more smoothly, with customers being able to purchase batteries and generators completely separately from a solar installation. Not only is this a better buy fiscally, but it also allows the project to work far more efficiently- increasing the value of the project and making it advantageous for both the company and customer explains Abe Issa solar.
Though most every solar company is predicting a major rise in sales because of this new act, they are still looking for ways to take advantage of this new market. One major way companies are looking to go about this include personalization to the customer needs.
That means, instead of simply adding a battery onto solar panel installation deals (solely because tax credit is now available), companies should go the extra mile to personalize a battery that it made to fit the customer’s needs- the size of their system, the size of the land, and more.
With solar paneling, even with the new IRA act, being a huge financial investment, so adding value where possible makes the product more attractive and resilient, though energy-saving businesses are aware that the primary reason for a solar panel switch is the new savings.
