Benefits of Solar Energy
Solar energy comes with multiple advantages. Here are some highlights.
- Better energy independence: Solar panel systems with energy storage systems work through blackouts and emergencies, and you won't have to depend on the power grid for your safety and comfort.
- Smaller power bills: Sourcing some or all of your own power will save you money on your electric bills long-term. Plus, some states offer net metering programs that allow you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Reduced carbon footprint: Adopting solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Bowling Green Homeowners?
Kentucky homeowners who decide on solar could qualify for special financing, tax credits, reimbursements and rebates. Here are just a few of the local incentive programs.
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 Bowling Green
Choosing a company is the first step toward a well-oiled and cost-efficient solar energy system. Here are some important factors to remember while shopping for a solar specialist.
Licensing and Training
Residential solar energy companies in Kentucky don't need to be licensed electricians or plumbers. However, a plumber or electrician licensed by the Commonwealth must be the one to retain building permits and connect the system to meters and utility grids. You should also visit a company's website to learn about its private credentials. Two of the most prestigious are the Solar Heating Installer and PV Installation Professional certificates, granted by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Bowling Green
Your photovoltaic panels' style will impact how much power 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 have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
If you need to charge an electric car or use your solar power in cloudy weather, you can pay extra for add-ons. By choosing the right components, you can make your panel array more efficient and user-friendly. Not every solar contractor provides these add-ons, so look for a company that installs them if it's crucial for you.
Generally speaking, it will cost about $18,250 for a five-kilowatt solar array in Bowling Green. This table shows more specific pricing information for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,048 |
| Solar Polycrystalline | $818 |
| Thin-Film | $478 |
| Solar Battery | $671 |
| Solar Home EV Charger | $2,516 |
Financing Solar Energy in Bowling Green
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 solar loans, cash payments, power purchase agreements (PPAs) and solar leases. We suggest paying with cash or using 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 own your system and can apply for solar panel incentives to minimize 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 benefiting from energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases allow you to pay a monthly fee to rent your panels, while a PPA 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. Look for companies that offer two or more payment plans to find the right fit for your wallet.
The table below lists the average payback periods for different capacities of solar systems in Bowling Green.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. Local and state governments and utility companies might also offer rebates, discounts, and unique financing solutions that could save you more.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.3 years |
| 2 kW | 4.6 years |
| 5 kW | 11.4 years |
| 10 kW | 22.9 years |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Bowling Green
How much energy and money could I save per year by switching to solar?
Is solar energy readily available in Bowling Green?
Will a solar PV system boost my Bowling Green home value?
How can I evaluate my site's solar viability?
Is solar installation a fast job?
What's the average solar system size in Bowling Green?
How are traditional solar loans and PPAs different?
In contrast, solar loans can come from the government, installer, specialty lenders and local banks. You'll need to pass a credit check to qualify for most of them. While the upfront costs are greater, and you'll be responsible for maintenance, you'll also have total ownership and can apply for many more financial rewards.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.
