News & Opinions
The latest news and insights from Hanley Wood’s outspoken experts and key thought-leaders throughout the residential and commercial design and construction industry.
The Surprising Top 5 States Where Installing Solar Panels Will Get You Serious Cash
Zak Stone / Fast Company / August 30, 2013
Sure, some sun-soaked states are great places to get some power from the sun. But the complicated mix of tax credits and electricity prices make some less bright states good bets, too.
The best states to install solar panels at home aren’t necessarily the ones with the most sun. That’s one of the more interesting findings from a recent report produced by the personal finance site NerdWallet.com that ranks the 50 states by how much financial sense solar photovoltaics makes for homeowners.
The top two states crowning the list may come as no surprise: California and Hawaii, both rich in sunshine and progressive attitudes toward environmental issues. But dig a bit deeper and you’ll see Maryland, Delaware, New Jersey, New York in fourth through seventh, respectively–the kinds of states people leave in search of sunshine–while sun-soaked Nevada (9th), New Mexico (13th), Texas (14th), and Utah (28th) cower below. The report looked at a number of factors to produce its findings, including the shrinking costs of solar PV panels to the complicated area of tax credits and subsidies at the state and federal levels.