Benefits of Solar Energy
Solar energy provides multiple perks. Here are some highlights.
- Better energy independence: Adding a battery storage system lets you have trustworthy energy during grid outages and storms.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, decreasing your periodic electricity costs. Going off-grid can eliminate your bills completely. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to West Bloomfield Homeowners?
Michigan agencies and electric companies offer multiple solar incentives to help reduce your solar system costs. Here is a breakdown of applicable solar programs where you live.
Incentive Type: Loan Program
Website: michigansaves.orgIncentive Amount:
$30,000
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 West Bloomfield
The more thorough your provider search is, the better your solar installation will ultimately work. Make your choice based on the following key factors.
Licensing and Training
Michigan law has a de facto licensing requirement for solar photovoltaic installers. In other words, there's no explicit requirement for solar installers to have a license, but workers dealing with electrical wiring jobs do need a license. Solar thermal systems must be installed by a licensed mechanical contractor. Solar installers can also obtain accreditations from trade groups and standards organizations. The top 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 West Bloomfield
Your solar panels' type will affect how much electricity you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. 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.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies include these optional components, so look for a provider that sells them if it's essential for you.
You can plan to spend about $20,300 on average for a five-kilowatt solar energy system in West Bloomfield. Use the table in this section to get an idea of what amount West Bloomfield solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,170 |
Solar Polycrystalline | $912 |
Thin-Film | $533 |
Solar Battery | $749 |
Solar Home EV Charger | $2,807 |
Financing Solar Energy in West Bloomfield
Choosing the best financing solution will impact your overall solar system cost and possible savings. Common payment options include power purchase agreements, cash payments, leases, and loans. Most solar experts recommend a cash payment 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 solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a car or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases allow you to use your panels for a fixed monthly rate, while PPAs let you pay just 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 provider you're considering about the financing options it offers. A team member can help you determine the most suitable option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in West Bloomfield.
A 26% federal solar tax credit applies to recently-purchased solar equipment purchased through 2032. Additional incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.1 years |
2 kW | 4.1 years |
5 kW | 10.2 years |
10 kW | 20.5 years |
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Frequently Asked Questions About Solar in West Bloomfield
How much money could I save by going solar in West Bloomfield?
How common is solar energy in West Bloomfield?
Should I anticipate a boost in my property value after going solar?
Could I still use solar power if I live in a rainy, dark, or wooded area?
How long does the photovoltaic installation process last?
What size should my new West Bloomfield solar system be?
Should I get quotes from multiple West Bloomfield solar companies?
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