Benefits of Solar Energy
Solar energy offers multiple benefits. Here are some highlights.
- Reduced carbon footprint: Solar is a highly abundant clean energy source, meaning you can reduce or eliminate your home's dependence on fossil fuels.
- 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.
- Better energy independence: Solar panels can keep your home running through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with optional battery backup.
What Solar Incentives Are Available to Shreveport Homeowners?
Governments and utility 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
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 Shreveport
Choosing a company is the first step toward an effective and valuable solar array. Make your choice based on the following essential elements.
Licensing and Training
In Louisiana, contractors can earn a solar energy endorsement, or "classification," on their commercial contracting license. To do this, they need to obtain electrical, mechanical, or building endorsements first, then take a written test or prove their certification with NABCEP. Solar installers can also pursue certifications from trade groups and standards organizations. The most recognized ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Shreveport
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.
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 system more effective and user-friendly. Not every solar provider includes these additional features, so look for a contractor that sells them if it's crucial for you.
You can expect to pay about $19,000 on average for a five-kilowatt solar energy system in Shreveport. Use the table in this section to get an idea of what amount Shreveport solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Shreveport
Solar contractors 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, solar leases, cash payments and power purchase agreements (PPAs). Though it involves a large up-front payment, cash is the most cost-effective choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best option. As with a home or auto 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 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 don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in specific circumstances. Look for providers that offer multiple 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 Shreveport.
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 financing plans and rebates that could reduce your total cost even more.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Shreveport
How much energy and money could I save per year by switching to solar?
Is solar energy common in Shreveport?
Will a solar PV system increase my Shreveport home price?
Could I still use solar power if I live in a rainy, wooded, or dark area?
What size should my new Shreveport solar system be?
How long does it take to pay back a solar loan in Shreveport?
How does "net metering" work, and do I need to participate?
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make fixed monthly payments.
With both leases and PPAs, you don't own your panels and lose eligibility for most incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
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