Benefits of Solar Energy
Solar energy provides multiple perks. Let's look at a few of them.
- Lowered energy bills: With solar panels, you create power without paying the tacked-on costs of grid-connected power. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: The sun is one of the universe's most abundant clean energy sources, meaning you can minimize or conquer your home's dependence on fossil fuels.
- Better energy independence: Adding a solar battery storage system lets you have reliable energy during grid outages and storms.
What Solar Incentives Are Available to Idaho Falls Homeowners?
Idaho homeowners who choose solar could qualify for reimbursements, tax credits, rebates and special financing. Here are just a few of the area's incentive programs.
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: Rebate Program
Website: wattsmarthomes.comIncentive Amount:
Ductless Heat Pumps: Up to $1,700
Electronically Commutated Motors: Up to $100
Evaporative Coolers: Up to $200
Heat Pumps: up to $750
Ground Source Heat Pumps: up to $2,500
Rooftop Heat Tape Timer: up to $100
Room Air Conditioners: Up to $20
Smart Thermostats: $50
Whole House Ventilation Fans: up to $125
Manufactured Homes Duct Sealing: Free service available
Manufactured Homes Ductless Heat Pumps: Up to $1,300
Lighting: Special pricing at certain retailers
Heat Pump Water Heaters: up to $550
Insulation: Up to $0.10/sq.ft
Incentive Type: Loan Program
Website: idahofallsidaho.govIncentive Amount:
Heat Pumps: $7,500
Water Heater: $5,000
Insulation: $5,000
Windows: $5,000
Appliances: Contact IFP
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 Idaho Falls
The purchase price and performance of solar panels often depend on the provider that mounted them. Make your choice based on the following crucial aspects.
Licensing and Training
Idaho's Division of Building Safety recently began issuing solar photovoltaic contracting licenses. If you're installing a solar thermal system, your installer must be a licensed plumbing contractor. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Idaho Falls
The type of solar panels you choose decides how much electricity you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. 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.
Additional accessories, such as electric vehicle (EV) chargers and battery storage, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor provides these additional features, so look for a company that sells them if it's a priority for you.
Most Idaho Falls homeowners choose solar systems designed for five kilowatts (kW) of electrical capacity. These systems run about $17,300 to set up, considering both materials and labor. You can find more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,109 |
Solar Polycrystalline | $865 |
Thin-Film | $506 |
Solar Battery | $709 |
Solar Home EV Charger | $2,661 |
Financing Solar Energy in Idaho Falls
Choosing the optimal financing solution will influence your overall solar system cost and expected savings. Common payment options include loans, power purchase agreements, cash payments, and leases. Though it requires a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the second most effective option. As with a home or auto loan, 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 involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) permits you to pay a monthly rate determined by the energy you use, similar to an electric bill. We typically don’t recommend these two options because you won't own the solar system and are disqualified from using solar incentives. Ask each installer you're vetting about the payment options it offers. A team member can help you determine the most suitable option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Idaho Falls.
The IRS allows you to claim a 26% federal tax credit for solar panels on your new solar panels, so long as you purchase it before 2032. Municipal authorities and utilities might also offer their own financing programs, rebates, and incentives that could save you more money.
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 |
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Frequently Asked Questions About Solar in Idaho Falls
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Idaho Falls?
Should I anticipate a boost in my property value after installing solar panels?
Could I still use solar power if I live in a dark, rainy, or wooded area?
What can I do to predict my home's solar potential?
What is the average payback period for Idaho Falls solar panels?
What is "net metering," and how does it work?
Some states or energy providers require you to enroll in net metering when installing your solar system, while others give you a choice. Either way, once you participate, you'll earn a bill credit or check for your excess generation at a retail or wholesale rate.
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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