Benefits of Solar Energy
Solar energy offers several advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power reduces your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Better energy independence: Adding a battery backup or storage system lets you have trustworthy energy during grid outages and storms.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, minimizing your periodic electricity costs. 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 Stratford Homeowners?
Governments and power companies often reward homeowners for switching to solar. Here are some of the tax credits, rebates, 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: 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 Stratford
The more thorough your company investigation is, the better your solar system will ultimately perform. Consider all of these factors in your contractor 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 enroll with the state's Clean Energy Fund, so their customers can earn incentives. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar industry's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Stratford
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 electric vehicle (EV) chargers and battery storage, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar providers include these additional features, so look for a contractor that installs them if it's a priority for you.
You can plan to spend about $18,750 on average for a five-kilowatt solar energy system in Stratford. Use the table in this section to get an idea of what amount Stratford solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,204 |
Solar Polycrystalline | $939 |
Thin-Film | $549 |
Solar Battery | $771 |
Solar Home EV Charger | $2,890 |
Financing Solar Energy in Stratford
Choosing the best financing plan will influence your overall solar system cost and expected savings. Common payment options include loans, leases, cash payments, and power purchase agreements. Though it requires a large up-front payment, cash is the most cost-effective 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 let you rent your panels for a fixed monthly rate, while PPAs let you pay just for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for providers that offer several payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Stratford.
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. Municipal authorities 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 Stratford
How much money could I save by going solar in Stratford?
How common is solar energy in Stratford?
Should I anticipate a property value increase after adopting solar power?
How long does the photovoltaic installation process take?
How do I care for my new solar system?
What's the average solar system size in Stratford?
How can I boost my solar array's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
Should I get quotes from multiple Stratford solar companies?
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