Benefits of Solar Energy
Solar energy provides multiple perks. Here are some highlights.
- Reduced carbon footprint: The sun is the universe's most abundant clean energy source, meaning you can reduce or eliminate your home's dependence on "traditional" sources.
- Better energy independence: Photovoltaic systems with battery storage operate through power outages and emergencies, and you won't have to rely on your power company for your safety and well-being.
- Smaller power bills: Generating some or all of your own power will cut power costs long-term.
What Solar Incentives Are Available to Dearborn Homeowners?
The state of Michigan offers a variety of solar incentives to help cut your solar system costs. Below is 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
The more thorough your company research is, the better your solar system will ultimately operate. Make your choice based on the following crucial aspects.
Licensing and Training
Michigan law has a de facto licensing requirement for solar photovoltaic installers. In other words, while solar contractors technically don't need a license by the letter of the law, workers dealing with electrical wiring jobs do need a license. Solar thermal systems must be installed by a licensed mechanical contractor. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of 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 Dearborn
Your solar panels' model will impact how much power you can produce. Monocrystalline panels cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total project price, but they can improve your solar system's performance. Not every solar provider provides these optional components, so look for a provider that sells them if it's essential for you.
If you're a resident of Dearborn and are considering getting a five-kilowatt solar energy system, you could expect to pay about $20,300 for parts and installation. Find more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Dearborn
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 power purchase agreements (PPAs), solar leases, cash payments and solar loans. Most solar experts recommend paying cash or using a solar loan. Cash payments demand 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. Much like an auto or home loan, you'll pay a set monthly rate with potentially $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 determined by the energy you use, similar to an electric bill. We generally don’t recommend these two options because you won't own the panels and are disqualified from using solar incentives. Look for providers 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 Dearborn.
The IRS allows you to claim a 26% federal tax credit on your new solar panels, so long as you purchase it before 2032. Local governments and utilities might also offer their own rebates, incentives, and financing programs that could save you more money.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Dearborn
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Dearborn?
Will solar energy systems raise my Dearborn home price?
How can I check my site's solar suitability?
What's the average solar system size in Dearborn?
How long does it take to pay back a solar loan in Dearborn?
Should I get quotes from multiple Dearborn solar companies?
To share feedback or ask a question about this article, send a note to our Reviews Team at email@example.com.