2024 Trends for Residential Solar Energy

Are you thinking about solar panels but aren’t quite ready to say, “Sign me up”? Solar energy is good for the environment, lowers energy bills—and is getting easier on the wallet.

What's "on trend" in the world of solar?

With homeowners having more options than ever before, solar is the wave of the future. These solar trends for 2024 can help you decide if it’s time for you to join the solar revolution.

Custom modern roof with solar panels.

The rise of more affordable, efficient home solar systems  

Solar panels lower your carbon footprint and also reduce dependence on external energy sources like your local utility, which continues to raise rates year after year. Homeowners are becoming increasingly aware of the financial benefits, with potential savings of tens of thousands of dollars over the lifetime of their system. Read on to find out why these residential solar trends matter to you.  

Advances in technology, government incentives, new aesthetic options, and other factors have resulted in enormous strides in more efficient and affordable solar options. Why is home solar becoming so popular? To find out, it’s useful to understand the 2024 trends below. 

Federal and Massachusetts incentives for residential solar energy

The government is behind solar. Global, federal, and state commitments to sustainable energy continue to grow, and Massachusetts is a leader in policies and programs that encourage solar adoption for homeowners. While the cost of solar panels is substantial (but decreasing!), federal and Massachusetts solar incentives help mitigate the initial installation costs.

Incentives for solar include:

  • Now through 2032, the fed IRS Residential Clean Energy Credit equals 30% of the costs of new, qualified clean energy property (such as photovoltaic panels) for your home. 
  • Massachusetts Solar Incentives provide a state income tax credit worth 15% of total solar installation cost, up to $1,000
  • There’s no 6.25% sales tax on solar panel purchases. Additionally, there’s no property tax increases for increased home value from solar panel installation.
  • Various rebates from power companies through the Solar Massachusetts Renewable Target (SMART) program and the Massachusetts Municipal  Light Plant Solar Program, and Net Metering Options
  • With sustainability and dangers of climate change increasingly affecting government policy, even more incentives may be on their way

Lower costs and a hedge against inflation

Utility rates continued to climb in 2023 and are expected to keep climbing for the foreseeable future. As the outdated central grid tries to keep up with electricity demand, solar energy helps you fight against inflation. 

Another piece of the financial equation is that the average cost of a rooftop solar panel system is around $25,000 (before tax credits and other incentives). That’s $50,000 less than just a decade ago, thanks in part to decreasing material costs, increased solar panel efficiency and improvements in the installation processes.

Let’s look at some of the reasons for these cost savings.

Custom modern roof with solar panels.

Rapidly advancing technology

Industry growth, along with more efficient manufacturing and installation processes, are consistently lowering the cost of solar equipment and expanding consumer options. We can expect even more improvements in the coming years, with more durable and efficient solar cells, advanced materials, longevity of equipment, and lower maintenance costs over the life of the system.

Below are some of the exciting developments that are ringing in the era of solar transformation and residential solar trends.

Advanced panels deliver higher efficiency and faster payback

Currently, solar panels typically pay for themselves within six to 10 years. The more solar energy your system generates, the more money you save and the faster your return on investment. Efficiency ratings and output have soared in the last few years with the onset of microcrystalline panels. 

Although higher efficiency comes with a higher price tag, the long-term benefits are often worth the investment. This is especially for smaller homes with less available roof space. The industry’s race to ever higher milestones makes it inevitable that homeowners will increasingly see higher-efficiency panels at lower costs.     

The growing popularity of home solar energy storage

Battery Energy Storage Systems (BESS) using lithium-ion and solid-state batteries are also gaining traction. BESS systems capture surplus energy during times of high production or low demand. They store it for use during times of low production or high demand. As the technology matures, more homeowners are considering this option as a stand-alone solution or as part of their photovoltaic systems. This will provide a stable and consistent supply of renewable energy, even when little sunlight is available.  

Aesthetic options are expanding as a part of residential solar trends

Homeowners are excited by new stylistic options when making home improvements. Color options for solar panels are generally black (monocrystalline) or blue (polycrystalline). The natural colors silicon becomes during the manufacturing process. Panels with other colors currently cost more and generate less power (up to 45% less efficiency)—the opposite of what most homeowners want. Manufacturers are working to improve the efficiency of colored panels. This may lead to greater popularity and eventually to lower prices.  

Another aesthetic technology is Building-Integrated Photovoltaics (BIPV), which can build solar technology right into building materials like roofing and windows. You can also choose panels that blend seamlessly with your surroundings. This includes transparent solar panels integrated into windows or solar skins that enable panels with customizable appearances.  

Artificial intelligence brings smart solar energy

AI technology in the home is escalating, including the availability of smart solar panels. AI is being used for real-time monitoring and optimization of solar energy production, for greater efficiency and effectiveness. AI algorithms can predict energy production and consumption, enabling smarter energy management and integration with the grid.

Warranties are becoming more generous

As the lifespan of solar panels increase, so are the length of manufacturer and installation warranties. In 2024, most major solar manufacturers offer warranties that guarantee a certain level of output over 25 years, and some companies are beginning to offer 30-year warranties. If solar pays for itself in 6-10 years, this leaves homeowners with 14-18 years of free electricity production while the panels are still under warranty. 

Resale value continues to grow

According to Zillow, homes with solar panels sell for 4.1% more than homes without, with  67% of potential homebuyers considering energy efficiency to be “very to extremely important.” Another study showed that home value increases by $20 for every $1 saved on your utility bills. In other words, a home solar system that saves you $1,500 per year would increase your home value by $30,000. As renewable energy becomes more important to home buyers, these figures should become even more positive. 

Embrace the Solar Energy Revolution with Golden Group Roofing and Solar

Is it time for you to go solar? 2024 trends in residential solar show that solar can be a smart choice for homeowners throughout Massachusetts. With remarkable advances in technology, falling costs, and increasing support, 2024 offers more opportunities than ever for homeowners to enjoy the benefits of this powerful renewable energy option.

Award-winning Golden Group is committed to staying at the cutting edge of the solar industry, bringing the high-quality solar roof panels expertly installed by our team of roofers and solar experts.  Contact Golden Group Solar to start your solar energy journey today, harnessing the power of the sun for a more energy-efficient future.