Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Better energy independence: Photovoltaic solar panel systems with battery backups and storage systems function through power outages and emergencies, and you won't have to rely on the grid for your safety and comfort.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Lowered energy bills: With solar energy systems, you create 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 have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Meriden Homeowners?
Connecticut homeowners who go solar could qualify for tax credits, special financing, reimbursements and rebates. Here are just a few of the region's incentive programs.
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: Loan Program
Website: capitalforchange.orgIncentive Amount:
$25,000
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 Meriden
The purchase price and efficacy of solar panels often hinge on the provider that mounted them. Here are some crucial criteria to bear in mind while searching for a solar specialist.
Licensing and Training
In Connecticut, a professional meeting minimum experience requirements can take an exam to become a licensed solar PV or thermal contractor. Once they're licensed, they'll need to sign up with the state's Clean Energy Fund, so their customers can earn incentives. Solar installers can also earn certificates from standards organizations and trade groups. The most recognized ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Meriden
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar company provides these extras, so look for a provider that installs them if it's crucial for you.
If you're a resident of Meriden and are considering getting a five-kilowatt solar energy system, you could expect to pay about $18,750 for materials and labor. See more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,161 |
Solar Polycrystalline | $905 |
Thin-Film | $529 |
Solar Battery | $743 |
Solar Home EV Charger | $2,786 |
Financing Solar Energy in Meriden
Solar installers offer multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are solar leases, cash payments, power purchase agreements (PPAs) and solar loans. Though it requires a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the second most effective option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate determined by the energy you use, akin to an electric bill. We typically don’t recommend these two options because you won't own the panels and are disqualified from using solar incentives. We recommend working with a provider that offers multiple financing options. Talk to each representative about what's available, and get more than one estimate for the best odds of staying within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Meriden.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. City and state officials 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 Meriden
How much energy and money could I save per year by switching to solar?
How common is solar energy in Meriden?
Should I expect a property value increase after adopting solar power?
How can I determine my property's solar viability?
How do I care for my new solar system?
What's the average solar system size in Meriden?
What are the signs I shouldn't use a particular solar company for my job?
- Pushy sales approach
- Not being straightforward about references, training and credentials, cost and warranties
- "One-size-fits-all" approach
- Rushing through the site assessment
- Limited customer feedback
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