Benefits of Solar Energy
Solar energy offers multiple advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
- Lowered energy bills: You can skip the added cost of grid-tied power by generating some electricity right where you use it. Plus, many states offer net metering which can allow you to sell your unused energy back to help pay for your energy bill.
- Better energy independence: Photovoltaic solar panel systems with energy storage systems operate through power outages and emergencies, and you won't have to rely on the electrical grid for your safety and comfort.
What Solar Incentives Are Available to Rexburg Homeowners?
Governments and utility companies often incentivize homeowners for adopting solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
Incentive Type: Loan Program
Website: oemr.idaho.govIncentive Amount:
Residential: $15,000
All others: $100,000
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: 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 Rexburg
The cost and effectiveness 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 PV contracting licenses. If you're installing a solar thermal system, your installer must be a licensed plumbing contractor. Solar installers can also earn accreditations from standards organizations and trade groups. The most respected ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Rexburg
Your solar panels' model will impact how much energy you can produce. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. 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 inclement weather, you can pay extra for add-ons. By selecting the right components, you can make your panel array more effective and user-friendly. Not all solar companies include these add-ons, so look for a company that installs them if it's important for you.
Most Rexburg homeowners choose solar systems rated for five kilowatts (kW) of electrical capacity. These systems run about $17,300 to install, considering both materials and labor. You can see more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,106 |
Solar Polycrystalline | $863 |
Thin-Film | $505 |
Solar Battery | $708 |
Solar Home EV Charger | $2,655 |
Financing Solar Energy in Rexburg
Solar companies use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are cash payments, power purchase agreements (PPAs), solar loans and solar leases. Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a car or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a power purchase agreement 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. Ask each provider you're vetting about the financing options it offers. A salesperson can help you determine the best option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Rexburg.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Municipal and state governments 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 | 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 Rexburg
How much money could I save by going solar in Rexburg?
How popular is solar energy in Rexburg?
Will solar panels increase my Rexburg home value?
What can I do to assess my home's solar potential?
Is solar installation a quick job?
How long does it take to pay back a solar loan in Rexburg?
What are some "red flags" to watch for as I research companies?
- Pushy sales approach
- Not being straightforward about warranties, cost, credentials and training and references
- Limited or no customization
- Superficial, rushed site evaluation
- Limited customer feedback
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