Benefits of Solar Energy
Solar energy comes with multiple advantages. Here are some highlights.
- Better energy independence: Solar panel systems with battery backups and storage systems work through power outages and emergencies, and you won't have to depend on your power company for your safety and comfort.
- Reduced carbon footprint: Solar is one of the universe's most abundant clean energy sources, meaning you can minimize or conquer your home's dependence on non-renewable sources.
- Lower utility costs: Sourcing some or all of your own power will save you money on your electric bills long-term. Plus, some states provide net metering programs that make it possible for you to sell your surplus energy back to the grid, generating extra credits toward your energy bill.
What Solar Incentives Are Available to Southington Homeowners?
Connecticut homeowners who choose solar could qualify for reimbursements, tax credits, special financing and rebates. Here are just a few of the local incentive offerings.
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 Southington
The more thorough your company research is, the better your solar system will ultimately operate. Make your choice based on the following crucial aspects.
Licensing and Training
In Connecticut, a professional 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 sign up with the state's Clean Energy Fund, so their customers can earn incentives. Solar companies can also earn certifications from standards organizations and trade groups. The most respected 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 Southington
The kind of solar panels you choose determines how much power you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can maximize your solar system's performance. Not all solar providers provide these extras, so look for a provider that sells them if it's crucial for you.
If you're a resident of Southington and want a five-kilowatt solar energy system, you could expect to pay about $18,750 for parts and installation. Find more information on specific component and solar panel costs 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 Southington
Choosing the optimal financing plan will affect your overall solar system cost and expected savings. Common payment options include cash payments, leases, loans, and power purchase agreements. Though it involves a large up-front payment, cash is the most economical choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the runner-up option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We suggest working with a provider that offers multiple financing options. Ask each salesperson about what's available, and secure more than one estimate for the best odds of staying within your budget.
The table below lists the average payback periods for different capacities of solar systems in Southington.
The IRS allows you to claim a 26% federal tax credit for solar panels on the full cost of the solar system, so long as you purchase it before 2032. Local governments and utilities might also offer their own incentives, financing programs, and rebates that could save you more money.
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 Southington
How much energy and money could I save per year by switching to solar?
How popular is solar energy in Southington?
Will a solar PV system increase my Southington home price?
What can I do to assess my home's solar viability?
How long does the photovoltaic installation process require?
How do I care for my new solar system?
What is "net metering," and how does it work?
Some states or utilities require you to participate in net metering when installing your solar system, while others give you a choice. Either way, once you participate, you'll get a bill credit or check for your excess generation at a wholesale or retail rate.
What are the signs I shouldn't use a particular solar company for my job?
- Aggressive sales pitch
- Dodging questions about warranties, training and credentials, cost and references
- Inflexible options
- Superficial, rushed site evaluation
- More mixed or negative reviews than positive ones
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.