Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: Solar is a highly abundant clean energy source, meaning you can minimize or conquer your home's dependence on non-renewable sources.
- Lowered energy bills: With solar panels, you generate power without paying the tacked-on costs of grid-tied power. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Better energy independence: Photovoltaic solar panel systems with energy storage systems operate through blackouts and emergencies, and you won't have to rely on the grid for your safety and comfort.
What Solar Incentives Are Available to Manchester Homeowners?
Governments and utility companies often incentivize homeowners for switching to solar. Here are some of the rebates, tax credits or other programs you could qualify for.
Incentive Type: Property Tax Incentive
Incentive Amount:
Varies (local option)
Incentive Type: Property Tax Incentive
Incentive Amount:
100% of value added by renewable system
Incentive Type: Sales Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Rebate Program
Website: gosolarct.comIncentive Amount:
Customer-owned (EPBB):
Up to 10 kW PTC: $0.358/W
10 to 20 kW PTC: $0.207/W
Incentive is reduced accordingly for Design Factors below 75%. Minimum design factor is 60%.
Third-Party-Owned (PBI):
Up to 20 kW PTC: $0.03/kWh for 6 years
Minimum Design Factor 60%
Incentive Type: Green Building Incentive
Website: ctgreenbank.comIncentive Type: Loan Program
Website: ctgreenbank.comIncentive Type: Sales Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Loan Program
Website: capitalforchange.orgIncentive Amount:
Single family homes (1-4 family units): $25,000
Landlord Loan: $40,000
Incentive Type: Solar Renewable Energy Credit Program
Website: uinet.comIncentive Amount:
$98.18 per ZREC (for Year 6 round of solicitation)
Incentive Type: Solar Renewable Energy Credit Program
Website: eversource.comIncentive Amount:
$100.74 per REC (for Year 7 round of solicitation)Tariff for Small ZREC determined through PURA
Incentive Type: Rebate Program
Website: energizect.comIncentive Amount:
Ductless Heat Pump: $500
Refrigerators/Freezers, Room A/Cs, Dishwashers, Clothes Washers, Dehumidifiers: Incentive Included in Retail Price
Central A/C: $200
Air Source Heat Pumps: $500
Heat Pump Water Heater: $750
Lighting: Incentive Included in Retail Price
Geothermal Heat Pumps: $500-$1,500
High Efficiency Furnace, Natural Gas Boiler, and Boiler Circulator Pump: Instant Discounts of $25-$800
Incentive Type: PACE Financing
Website: cpace.comIncentive Amount:
Locally determined
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Manchester
Choosing a company is the first step toward a well-oiled and valuable solar array. Consider all of these elements in your service provider search.
Licensing and Training
In Connecticut, an installer who meet minimum experience requirements can take an exam to become a licensed solar PV or thermal contractor. Once they're licensed, they'll need to register with the state's Clean Energy Fund, so their customers can earn incentives. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Manchester
The type of solar panels you choose determines how much energy you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
If you need to charge an electric car or use your solar power in dark weather, you can pay extra for add-ons. By choosing the right components, you can make your system more productive and convenient to use. Not all solar providers provide these optional components, so look for a company that installs them if it's essential for you.
A majority of Manchester homeowners select solar systems rated for five kilowatts (kW) of electrical capacity. These systems run about $18,750 to set up, considering both materials and labor. You can find more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,206 |
Solar Polycrystalline | $940 |
Thin-Film | $550 |
Solar Battery | $772 |
Solar Home EV Charger | $2,894 |
Financing Solar Energy in Manchester
Choosing the optimal financing solution will affect your overall solar system cost and potential savings. Common payment options include loans, cash payments, power purchase agreements, and leases. We suggest making a cash payment or using a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) allows you to pay a monthly rate determined by the energy you use, similar to an electric bill. We typically don’t recommend these two choices because you won't own the panels and cannot use solar incentives. Ask each company you're evaluating about the payment options it offers. A consultant can help you determine the optimal option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Manchester.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Municipal and state governments and utility companies might also offer rebates, discounts, and unique financing solutions that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 1.9 years |
2 kW | 3.8 years |
5 kW | 9.4 years |
10 kW | 18.9 years |
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Frequently Asked Questions About Solar in Manchester
How much money could I save by going solar in Manchester?
How widespread is solar energy in Manchester?
Should I expect a property value increase after going solar?
Could I still use solar power if I live in a wooded, rainy, or dark area?
How can I evaluate my property's solar viability?
What care do my solar panels need, and how often do they need it?
What is "net metering," and how does it work?
Some states or power companies require you to enroll in net metering when purchasing your solar system, while others give you a choice. Either way, once you sign up, you'll receive a bill credit or check for your excess generation at a wholesale or retail rate.
How are a solar lease and PPA different?
If you choose a lease, you'll make set payments each month.
With both leases and PPAs, you do not own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
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