Benefits of Solar Energy
Solar energy provides multiple perks. Let's look at a few of them.
- Lowered energy bills: With a solar array, you produce 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: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Better energy independence: Solar energy can keep your home powered through emergencies and blackouts. You can use your solar energy anytime with an optional battery storage system.
What Solar Incentives Are Available to Lawrence Homeowners?
Governments and power companies often reward homeowners for going solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
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: 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 Lawrence
The purchase price and effectiveness of solar panels often hinge on the provider that mounted them. Consider all of these aspects in your service provider search.
Licensing and Training
In Kansas, the state government hasn't implemented centralized solar contracting licenses, though some counties issue and require their own licenses for projects within their borders. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Lawrence
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can improve your solar system's performance. Not all solar providers offer these additional features, so look for a company that installs them if it's important for you.
You can expect to pay about $16,700 on average for a five-kilowatt solar energy system in Lawrence. Check the table in this section to get an idea of what amount Lawrence solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,040 |
| Solar Polycrystalline | $811 |
| Thin-Film | $474 |
| Solar Battery | $666 |
| Solar Home EV Charger | $2,496 |
Financing Solar Energy in Lawrence
Solar installers use multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are solar loans, power purchase agreements (PPAs), solar leases and cash payments. Though it involves 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 next best option. As with a car or home 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 use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for installers that offer two or more 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 Lawrence.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own financing plans and rebates that could reduce your total cost even more.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 1.7 years |
| 2 kW | 3.4 years |
| 5 kW | 8.5 years |
| 10 kW | 16.9 years |
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Frequently Asked Questions About Solar in Lawrence
How much money could I save by going solar in Lawrence?
Is solar energy readily available in Lawrence?
Will solar energy systems boost my Lawrence home value?
Could I still use solar power if I live in a wooded, dark, or rainy area?
How can I determine my home's solar feasibility?
What's the average solar system size in Lawrence?
How does "net metering" work, and do I need to participate?
How many estimates should I get before making a final solar company decision?
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