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Solar and Interest Rates | February 13, 2023

Should I Wait for Lower Interest Rates Before Going Solar? 

Many homeowners have heard the Fed Chairman allude to the possibility of lower interest rates later this year. As a result, some people have decided to hold off on making the switch to solar in the hopes of getting a better interest rate and saving money. But is this a wise decision, or are they setting themselves up for disappointment?

The Fluid Nature of the Financial World

The financial world is ever-changing, and keeping up with all the updates can be a daunting task. This is especially true when it comes to the Federal Reserve and interest rates. The Fed Chairman’s initial guidance on the matter led some homeowners to believe that lower interest rates were on the horizon, but this was not the case.

A January Jobs Report That Changed Everything

The Fed Chairman updated his guidance in a recent interview, stating that monetary policy was predicated on getting a bad January Jobs report. The idea behind this was that a higher unemployment number would mean that the Fed rate hikes were working to slow inflation. However, the January Jobs report showed a different story, with greater demand for labor than the supply of labor.

No Slowdown in Inflation on the Horizon

The bottom line is that, in this environment, the Fed will likely keep raising interest rates. This means that those homeowners who were waiting for lower interest rates to go solar might get a shock when they find out that it’s only going to get more expensive.

Don’t Wait, Go Solar Today

In conclusion, the financial world is fluid and there’s no guarantee that interest rates will go down in the near future. Don’t wait for lower interest rates, make the switch to solar energy today. Inflation is not going to slow down, and you don’t want to miss out on the many benefits that come with going solar, such as lower energy bills and a greener, more sustainable future. Don’t wait, take action now and secure a better future for yourself and your family.

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