Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Better energy independence: Solar energy can keep your home functioning through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can reduce or eliminate your home's dependence on non-renewable sources.
- Smaller power bills: Sourcing some or all of your own energy will spend less on electricity long-term. Plus, some states offer net metering programs that enable you to sell your unused energy back to the grid, generating extra credits toward your energy bill.
What Solar Incentives Are Available to Albany Homeowners?
Georgia homeowners who upgrade to solar could qualify for special financing, tax credits, rebates and reimbursements. Here are just a few of the region's incentive programs.
Incentive Type: Sales Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Rebate Program
Website: georgiapower.comIncentive Amount:
Single Family
Central AC Replacement: $50
Air/Duct Sealing: $300
Attic Insulation: $250
Heat Recovery Water Heater with Heat Pump: $250
Heat Pump Water Heater: $250
Solar Water Heater: $250
Home Energy Assessment: $150
Smart Thermostat: $75
Heat Pump conversion: $250
Multifamily
Central AC Replacement: $25
Air/Duct Sealing: $150
Attic Insulation: $125
Heat Recovery Water Heater with Heat Pump: $250
Heat Pump Water Heater: $250
Solar Water Heater: $250
Home Energy Assessment: $75
Smart Thermostat: $38
Heat Pump conversion: $125
Incentive Type: Loan Program
Website: cgemc.comIncentive 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 Albany
Choosing a company is the first step toward an effective and valuable solar system. Consider all of these factors in your contractor search.
Licensing and Training
Georgia doesn't have contractors' licenses specific to solar energy, but the law does require solar installers to be licensed electrical contractors. The Georgia Secretary of State manages licenses and business filings. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Albany
The type of solar panels you choose dictates how much energy you can generate. 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 vehicle (EV) or use your solar power in dark weather, you can pay extra for add-ons. By selecting the right components, you can make your panel array more productive and user-friendly. Not all solar companies provide these add-ons, so look for a company that installs them if it's crucial for you.
If you're a resident of Albany and are considering getting a five-kilowatt solar energy system, you could plan to spend about $18,700 for parts and installation. See more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $902 |
Solar Polycrystalline | $704 |
Thin-Film | $411 |
Solar Battery | $577 |
Solar Home EV Charger | $2,165 |
Financing Solar Energy in Albany
Choosing the best financing solution will impact your overall solar system cost and potential savings. Common payment options include leases, loans, power purchase agreements, and cash payments. Though it involves a large up-front payment, cash is the most economical choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the next best option. As with a home or auto loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving 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 fluctuating rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be suitable in certain circumstances. Ask each provider you're vetting about the payment options it offers. A team member can help you determine the most suitable option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Albany.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. City and state officials and utility companies might also offer rebates, discounts, and dedicated financing plans that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 1.8 years |
2 kW | 3.5 years |
5 kW | 8.8 years |
10 kW | 17.7 years |
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Frequently Asked Questions About Solar in Albany
How much money could I save by going solar in Albany?
Is solar energy readily available in Albany?
Will solar energy systems increase my Albany home price?
Could I still use solar power if I live in a rainy, wooded, or dark area?
What can I do to assess my home's solar viability?
What's the average solar system size in Albany?
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
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