Benefits of Solar Energy
Solar energy offers multiple perks. Here are some highlights.
- Lower energy bills: Producing some or all of your own power will spend less on electricity long-term.
- Better energy independence: Solar systems with battery storage operate through power outages and emergencies, and you won't have to rely on the electrical grid for your safety and comfort.
- Reduced carbon footprint: Solar is one of the universe's most abundant clean energy sources, meaning you can minimize or conquer your home's dependence on non-renewable sources.
What Solar Incentives Are Available to Dearborn Heights Homeowners?
Michigan's public agencies and power companies offer a variety of solar incentives to help offset your solar system costs. Check out a breakdown of relevant solar programs where you live.
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 Dearborn Heights
The cost and efficiency of solar panels often rely on which company installed them. Here are some important factors to bear in mind while shopping for a solar provider.
Licensing and Training
Michigan law has a de facto licensing requirement for solar photovoltaic installers. In other words, the law doesn't explicitly require solar installers to be licensed, but workers dealing with electrical wiring jobs do need a license. Solar thermal systems must be installed by a licensed mechanical contractor. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Dearborn Heights
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 vehicle (EV) chargers and battery backup systems. These will increase your total project price, but they can increase your solar system's efficiency. Not all solar contractors offer these extras, so look for a contractor that sells them if it's important for you.
Generally speaking, it will cost about $20,300 for a five-kilowatt solar array in Dearborn Heights. This table lists more specific prices for different solar panel types and system components in your area.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Dearborn Heights
Solar contractors 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, cash payments, power purchase agreements (PPAs) and solar leases. Though it involves a large up-front payment, cash is the most economical choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the runner-up option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, akin 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. Ask each company you're evaluating about the payment plans it offers. A staff member can help you determine the most suitable option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in Dearborn Heights.
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
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Dearborn Heights
How much money could I save by going solar in Dearborn Heights?
Is solar energy easily accessible in Dearborn Heights?
Should I expect a property value increase after switching to solar energy?
How many years will a common solar system last?
How long does the photovoltaic installation process require?
What upkeep do my solar panels need, and how frequently do they need it?
How are a solar lease and PPA different?
If you choose a lease, you'll make set monthly payments.
With both leases and PPAs, you do not 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.
To share feedback or ask a question about this article, send a note to our Reviews Team at firstname.lastname@example.org.