Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Better energy independence: Solar panel systems with energy storage systems work through power outages and emergencies, and you won't have to depend on your power company for your safety and well-being.
- Reduced carbon footprint: Adopting solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Lower utility costs: Generating some or all of your own electricity will save you money on your electric bills long-term. Plus, some states offer net metering programs that enable you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
What Solar Incentives Are Available to Caldwell Homeowners?
Idaho homeowners who decide on solar could qualify for tax credits, reimbursements, special financing and rebates. Here are just a few of the local incentive offerings.
Incentive Type: Loan Program
Website: oemr.idaho.govIncentive Amount:
Residential: $15,000
All others: $100,000
Incentive Type: Rebate Program
Website: idahofallsidaho.govIncentive Amount:
Air Source Heat Pump Conversion: Contact IFP
Air Source Heat Pump Conversion with Duct Sealing: contact IFP
Ground Source Heat Pump: $2,700-$3,150
Ductless Heat Pump: $720
Water Heater: $270-$450
Insulation (Attic, Floor, Wall): Varies, see program website for details
Windows: Varies, see program website for details
Incentive Type: Personal Tax Deduction
Incentive Amount:
40% in the first year; 20% per year for next three years
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 Caldwell
The price and efficacy of solar panels often hinge on the solar company that installed them. Consider all of these criteria in your company search.
Licensing and Training
Idaho's Division of Building Safety recently began to issue solar PV contracting licenses. If you're installing a solar thermal system, your installer must be a licensed plumbing contractor. You should also visit a company's website to learn about its private accreditations. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, granted by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Caldwell
Your solar panels' style will influence how much electricity you can generate. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
Additional components, such as battery storage and electric vehicle (EV) chargers, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies include these optional components, so look for a contractor that sells them if it's important for you.
If you're a resident of Caldwell and want a five-kilowatt solar energy system, you could expect to pay about $17,300 for parts and installation. Find more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,113 |
Solar Polycrystalline | $868 |
Thin-Film | $507 |
Solar Battery | $712 |
Solar Home EV Charger | $2,671 |
Financing Solar Energy in Caldwell
There are numerous ways to pay for new solar panels, and the right one will lower your costs. A few of the most common options include leases, power purchase agreements (PPAs), cash payments, and loans. We advise making a cash payment or securing a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to minimize your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still benefiting from energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate based only on the energy you use, akin to an electric bill. We generally don’t recommend these two options because you won't own the system and cannot use solar incentives. Look for providers that offer multiple payment plans to find the right fit for your financial needs.
The table below lists the average payback periods for different capacities of solar systems in Caldwell.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Local and state governments and utility companies might also offer rebates, discounts, and specialized financing options that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.4 years |
2 kW | 4.9 years |
5 kW | 12.1 years |
10 kW | 24.3 years |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Caldwell
How much money could I save by going solar in Caldwell?
How popular is solar energy in Caldwell?
Will a solar PV system raise my Caldwell home worth?
Is installing solar panels a fast job?
What upkeep do my solar panels need, and how frequently do they need it?
How long does it take to pay back a solar loan in Caldwell?
How does "net metering" work, and do I need to participate?
How are traditional solar loans and PPAs different?
You might consider a PPA if you don’t want to be responsible for maintaining your panels 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.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.