Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Lowered energy bills: You can avoid the premium cost of grid-tied power by producing some electricity right where you use it.
- Better energy independence: Adding a battery backup lets you have reliable energy during grid outages and storms.
- Reduced carbon footprint: Adopting solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to O'Fallon Homeowners?
The state of Missouri offers numerous solar incentives to help reduce your solar system costs. Here is a breakdown of eligible solar programs where you live.
Incentive Type: Rebate ProgramWebsite: powermoves.com
Dual Fuel Heat Pump: $500
Variable Speed Pool Pump: $250
Air-Source Heat Pump: $250 - $750
Geothermal Heat Pump: $1,500
Heat Pump Water Heater: $400/unit
HVAC: Varies depending on ZIP code. See program website
Incentive Type: Rebate ProgramWebsite: central.libertyutilities.com
$0.25 per watt for systems operational between July 1, 2019, and December 31, 2023
Incentive Type: Property Tax Incentive
Incentive Type: Rebate ProgramWebsite: ameren.com
Air-Source Heat Pump: $500-$900
Ductless Air-Source Heat Pump: $300-$500
Dual Fuel Heat Pump: $175-$200
Ground Source Heat Pump: $800-$2,000
Central Air Conditioner: $300-$500
Electronically Commutated Motor (ECM): $50-$100
Air Conditioner/Heat Pump Tune-Up: $75
Incentive Type: PACE Financing
Financing contracts limited to 20 years or less; improvements must display a positive economic benefit over the life of the contract.
Incentive Type: Rebate ProgramWebsite: cuivre.com
Water Heater: $50
Ground-Source Heat Pumps: $750/ton
Ground-Source Heat Pump Replacement: $150/ton
Dual Fuel Heat Pumps: $150/ton
Basement/Crawl space/slab insulation: 50% of installed cost
Advanced Thermostat: 50% of installed cost
Heat Pump Water Heater: 50% of installed cost
Window Air Conditioning: 50% of installed cost
Business Lighting Rebate: Varies, visit program website or contact utility for details
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 O'Fallon
Choosing a company is the first step toward an effective and cost-efficient solar system. Make your choice based on the following essential elements.
Licensing and Training
In Missouri, it's the responsibility of counties and cities issue contracting licenses. However, all contractors must register with the Missouri Secretary of State. You should also visit a company's website to learn about its private certifications. Two of the most recognized are the Solar Heating Installer and PV Installation Professional certificates, backed 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 O'Fallon
The kind of solar panels you choose decides how much electricity you can generate. Monocrystalline panels cost more but give you the best performance. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will add to your overall costs. However, they might make your solar system more efficient and convenient to use. Not every solar provider offers these extras, so look for a provider that installs them if it's crucial for you.
You can plan to spend about $16,850 on average for a five-kilowatt solar energy system in O'Fallon. Use the table in this section to get an idea of what amount O'Fallon solar companies might quote for your specific system.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in O'Fallon
Choosing the ideal financing plan will influence your overall solar system cost and potential savings. Common payment options include loans, power purchase agreements, cash payments, and leases. Though it involves a large up-front payment, cash is the most economical choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best 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 allow you to rent 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 do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We advise working with a provider that offers multiple financing options. Speak with each agent about what's available, and obtain more than one estimate for the best odds of staying within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in O'Fallon.
A 26% federal tax credit applies to new residential solar equipment purchased through 2032. Further incentives may be available through local governments, usually in the form of rebates and special financing programs.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in O'Fallon
How much money could I save by going solar in O'Fallon?
Is solar energy readily available in O'Fallon?
Should I expect a property value increase after switching to solar energy?
What if I live in a rainy or dark
How do I care for my new solar system?
What's the average solar system size in O'Fallon?
What are some "red flags" to watch for as I research companies?
- High-pressure sales tactics
- Not being straightforward about references, warranties, training and credentials and cost
- Inflexible options
- Rushing through the site assessment
- More mixed or negative reviews than positive ones
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from specialty lenders, installer, the government and local banks. You'll need to pass a credit check to qualify for most of them. While the upfront costs are more expensive, and you'll be responsible for maintenance, you'll also have total ownership and can apply for many more benefits.
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