Benefits of Solar Energy
Solar energy provides multiple perks. Let's look at a few of them.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, decreasing your regular electricity costs. Going off-grid can eliminate your bills completely.
- Reduced carbon footprint: Using clean solar power lowers your dependence on conventional, less environmentally-friendly sources.
- Better energy independence: Solar energy can keep your home powered through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with an optional battery storage system.
What Solar Incentives Are Available to Princeton Homeowners?
Governments and power companies often incentivize homeowners for adopting solar. Here are some of the rebates, tax credits or other programs you could qualify for.
Incentive Type: Sales Tax Incentive
Incentive Type: Property Tax Incentive
Residential: 100% of the added value
Non-Residential: 80% of the added value
Incentive Type: Rebate ProgramWebsite: fkec.com
Central A/C: 30%
Ductless Mini Split A/C: 30%
Room A/C: 30 %
Solar Water Heating: 30%
Window Film/Solar Screen: 100%
Cool/Reflective Roof Coating: $25 per 5 gallon bucket
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
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 Princeton
The cost and effectiveness of solar panels often hinge on the solar company that installed them. Consider all of these criteria in your service provider search.
Licensing and Training
Once an electrical professional in Florida has four years of field experience, including one year as an apprentice, they can take two exams to earn a CV license with the Florida Construction Industry Licensing Board. The Sunshine State also allows electrical contractors to install solar panels, but they may need to subcontract some tasks to a licensed roofer. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Princeton
Your photovoltaic panels' model will influence how much energy you can generate. Monocrystalline panels cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
If you want to charge an electric vehicle (EV) or use your solar power in dark weather, you can pay extra for accessories. By selecting the right components, you can make your panel array more effective and convenient to use. Not all solar companies offer these optional components, so look for a company that sells them if it's important for you.
If you're a resident of Princeton and want a five-kilowatt solar energy system, you could expect to pay about $16,050 for materials and labor. Find more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Princeton
Solar installers use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), solar leases, solar loans and cash payments. Though it involves a large up-front payment, cash is the most affordable choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the runner-up option. As with a car or home loan, 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 allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a variable rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be suitable in specific circumstances. Look for installers that offer two or more 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 Princeton.
You are eligible for a 26% federal tax credit for new solar power systems until the year 2032. City and state officials and utility companies might also offer discounts, rebates, and specialized financing options that could save you more.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Princeton
How much money could I save by going solar in Princeton?
Is solar energy widely available in Princeton?
Should I expect a property value increase after going solar?
What if I live in a dark or gloomy
What can I do to predict my home's solar viability?
How many years will a typical solar system last?
What are some "red flags" to watch for as I research companies?
- Pressuring you into signing a contract
- Being evasive about cost, references, training and credentials and warranties
- "One-size-fits-all" approach
- Superficial, rushed site evaluation
- Limited online information
What's the difference between a PPA and traditional financing?
You might consider a PPA if you don’t want to be responsible for maintenance and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any cost-saving solar incentives. Many solar experts don’t recommend PPAs. Our guide covers other financing options above.
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