While most people wouldn't think a global pandemic would have an impact on solar, the industry is no more immune than we are to the virus. All you need to do is look at the current demand for toilet paper and hand sanitizers to know that certain items are flying off the shelf. So naturally with 60-70% of US solar panel stock coming from Chinese companies, it should come as no surprise that the local availability of photovoltaic panels will grow more limited over time.
But why consider installing solar during a pandemic?
For starters, the old adage buy low, sell high comes to mind. Panels are inexpensive today, but how long will that last? As the economy shrinks and imports continue to drop drastically, the supply will become increasingly limited. Just like everything else, when there is a limited supply, the price will go up to meet demand. Further, as oil and gas shipments are down, it is safe to assume utility rates will continue to go up. Just look at the utility tracking graph from 2001 - 2016, which saw an increase of over 60% in utility rates. And that was without a global shortage of fossil fuels and the current economic downturn of shipments.
In addition, we've seen firsthand how fast a viral outbreak can impact everything from grocery availability to schools being canceled for weeks on end. We are confident in our utility providers, but what happens if the fossil fuels needed to keep the grid at capacity become limited due to the drastic drop in imports? What if we have to stay at home longer due to isolation restrictions as outlined by our Governor earlier today? How do we keep the lights on and the fridge running if the utility provider can't keep production up?
These all seem like silly questions, until you realize Walmart's shelves are cleared and lines for coronavirus testing are blocks long. If someone told you two weeks ago that schools would be closing across the nation would you have taken it seriously? I didn't. And now we are scrambling to make plans to cover all these unexpected circumstances, including having our three kids receiving a very extended spring break due to the outbreak. Luckily though, there is one area we aren't worried about: having guaranteed electricity for our home and family.
If you want more information on how solar can protect you and your family during this difficult time, contact us. The proposal is free, and while panel prices stay where they are at today, we will continue to guarantee that we beat your utility providers rates.
Stay safe, and God Bless.