Benefits of Solar Energy
Solar energy provides multiple benefits. Let's look at a few of them.
- Reduced energy costs: Producing some or all of your own electricity will save you money on your electric bills long-term.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Better energy independence: Photovoltaic systems with battery storage work through power outages and emergencies, and you won't have to rely on the power grid for your safety and well-being.
What Solar Incentives Are Available to Lawrence Homeowners?
Governments and utilities often reward homeowners for switching to solar. Here are some of the rebates, tax credits or other programs you could qualify for.
Incentive Type: Property Tax IncentiveWebsite: in.gov
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 CreditWebsite: ecowatch.com
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 more thorough your provider search is, the better your photovoltaic system will ultimately perform. Make your choice based on the following crucial aspects.
Licensing and Training
In Kansas, the state government doesn't issue solar contracting licenses, though some counties issue and require their own licenses for projects within their borders. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most trusted 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. 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 project price, 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 the amount Lawrence solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Lawrence
Solar companies 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 leases, cash payments, power purchase agreements (PPAs) and solar loans. 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 incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a home or auto loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) allows you to pay a monthly rate based only on the energy you use, akin 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. Look for installers that offer two or more payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Lawrence.
You can claim a 26% federal tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans that could reduce your total cost even more.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Lawrence
How much money could I save by going solar in Lawrence?
How prevalent is solar energy in Lawrence?
Will solar energy systems increase my Lawrence home worth?
Could I still use solar power if I live in a rainy, wooded, or dark area?
What can I do to calculate my home's solar viability?
What size should my new Lawrence solar system be?
Should I get quotes from multiple Lawrence solar companies?
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