Benefits of Solar Energy
Solar energy offers multiple advantages. Let's look at a few of them.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can minimize or conquer your home's dependence on non-renewable sources.
- Better energy independence: Adding a solar battery storage system lets you have trustworthy energy during storms and grid outages.
- Lowered energy bills: With a solar array, you generate power without paying the tacked-on costs of grid-tied power. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Columbus Homeowners?
Indiana agencies and electric companies offer a number of solar incentives to help lower your solar system costs. Here's a breakdown of applicable solar programs where you live.
Incentive Type: Property Tax Incentive
Website: in.govIncentive Amount:
Solar energy systems used for heating or cooling: out-of-pocket expenditures by the owner for the components and labor
Wind, hydroelectric, geothermal, solar thermal, solar PV, and other solar energy systems: the assessed value of the system
Incentive Type: Rebate Program
Website: powermoves.comIncentive Amount:
Dual Fuel Heat Pump: $500
Pool Pumps: $250/unit
Heat Pump Water Heaters: $400/unit
Air-Source Heat Pumps: $250 - $1,500/unit
Geothermal Heat Pumps: $1,500/unit
Incentive Type: Rebate Program
Website: sciremc.comIncentive Amount:
Heat Pump Water Heater: $500
Geothermal Heat Pump: $1,500
Air-Source, Ductless Mini Split, or Dual Fuel Heat Pump with Dual/Variable Speed Compressor: $750
Air-Source, Ductless Mini Split, or Dual Fuel Heat Pump with Single Speed Compressor Replacing Electric Resistance Heat: $800
Air-Source, Ductless Mini Split, or Dual Fuel Heat Pump with Dual/Variable Speed Compressor Replacing Electric Resistance Heat: $1,500
Incentive Type: Rebate Program
Website: nobleremc.comIncentive Amount:
Dual Fuel Heat Pump: $500
Variable Speed Pool Pump: $250
Air-Source Heat Pump: $250-$750
Ground Source Heat Pump: $1500
Heat Pump Water Heater: $400
Incentive Type: Rebate Program
Website: jcremc.comIncentive Amount:
Air Source Heat Pumps: $750/unit - $1,500/unit
Geothermal Heat Pumps: $1,500/unit
Heat Pump Water Heater: $500/unit
Mini-Split ductless Heat Pump: $750/unit - $1500/unit
Lighting: Instant rebates through online lighting store (small businesses, farms, or workshops)
Incentive Type: Feed-in Tariff
Website: nipsco.comIncentive Amount:
Wind 3 - 10 kW: $0.23 - $0.25/kWh
Wind 10 kW-200 kW: $0.15 - $0.138/kWh
Solar 5 kW - 10 kW: $0.17 - $0.1564/kWh
Solar 10 - 200 kW: $0.15/kWh - $0.138/kWh
Biomass 100kW - 1 MW: $0.0918/kWh
Incentive Type: Rebate Program
Website: duke-energy.comIncentive Amount:
HVAC Install (Heat Pumps, Geothermal Heat Pumps, Central Air Conditioners): $300 - $400/unit with additional $125 if installed along with a smart thermostat
Heat Pump Water Heater: $350
Attic Insulation and Air Sealing: $250/unit
Duct Sealing: $100/unit
Variable Speed Pool Pump: $300
Incentive Type: Rebate Program
Website: bcremc.comIncentive Amount:
Geothermal Heat Pump: $1,500
Air Source Heat Pumps: $750 - $1,500
Water Heater (New Construction/Conversion): $500
Refrigerator/Freezer Recycling: $50
LED Lighting: Instant discounts
Incentive Type: Rebate Program
Website: jacksonremc.comIncentive Amount:
Heap Pump Water Heater: $500 for the primary unit and $750 for the secondary unit
Air-Source or Ductless Mini-Split Heat Pump: $400/Unit - $1,500/Unit
Geothermal Heat Pump: $1,500/Unit
Duel Fuel Heat Pump: $400/Unit - $1,500/Unit
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 Columbus
The purchase price and effectiveness of solar panels often depend on the solar company that installed them. Here are some crucial criteria to bear in mind while shopping for a solar specialist.
Licensing and Training
In Indiana, there are no electrical or solar contracting licenses at the state level, but cities and counties might adopt their own licensing programs. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Columbus
Your photovoltaic panels' model will impact how much electricity you can generate. 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 are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can maximize your solar system's efficiency. Not every solar provider includes these extras, so look for a provider that installs them if it's crucial for you.
Generally speaking, it will cost about $20,500 for a five-kilowatt solar array in Columbus. This table shows more specific costs for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,122 |
Solar Polycrystalline | $875 |
Thin-Film | $512 |
Solar Battery | $718 |
Solar Home EV Charger | $2,693 |
Financing Solar Energy in Columbus
There are many ways to pay for a solar energy system, and the right one will lower your costs. A few of the most common options include leases, loans, cash payments, and power purchase agreements (PPAs). We recommend making a cash payment or securing a solar loan for the highest 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 have full ownership of your system and can apply for solar panel incentives to cut 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 installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases allow you to pay a monthly fee 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 won't own your system and are disqualified from solar incentives, but they might be suitable in certain circumstances. Ask each business you're considering about the payment options it offers. A staff member can help you determine the best option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Columbus.
A 26% federal solar tax credit applies to new residential solar equipment purchased through 2032. Extra incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.1 years |
2 kW | 4.1 years |
5 kW | 10.4 years |
10 kW | 20.7 years |
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Frequently Asked Questions About Solar in Columbus
How much money could I save by going solar in Columbus?
How popular is solar energy in Columbus?
Should I expect a property value increase after installing solar panels?
What can I do to calculate my home's solar viability?
How do I care for my new solar system?
How long does it take to pay back a solar loan in Columbus?
How can I enhance my solar system's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from the government, local banks, installer and specialty lenders. You'll need to pass a credit check to qualify for most of them. While the upfront costs are larger, and you'll be responsible for upkeep, you'll also have complete ownership and can apply for many more benefits.
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