Benefits of Solar Energy
Solar energy offers multiple advantages. Here are some highlights.
- Reduced carbon footprint: Adopting solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems function through blackouts and emergencies, and you won't have to depend on your power company for your safety and well-being.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, lowering your periodic electricity costs. Going off-grid can eliminate your bills completely. Plus, a significant number of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Apex Homeowners?
North Carolina homeowners who go solar could qualify for rebates, reimbursements, special financing and tax credits. Here are just a few of the local incentive programs.
Incentive Type: Rebate Program
Website: duke-energy.comIncentive Amount:
Residential: $0.60/W-AC
Nonresidential: $0.50/W-AC
Nonprofit: $0.75/W-AC
Incentive Type: Property Tax Incentive
Incentive Amount:
Residential systems: 100% of the appraised value
All other systems: 80% of the appraised value
Incentive Type: Property Tax Incentive
Incentive Amount:
No more than conventional equipment
Incentive Type: Rebate Program
Website: energyunited.comIncentive Amount:
Heat Pumps (15 SEER): $150/unit
Heat Pumps (16 SEER): $300/unit
Incentive Type: Rebate Program
Website: duke-energy.comIncentive Amount:
Central Air Conditioning or Heat Pump: $300 - $400 + $50 with added smart thermostat
Geothermal Heat Pump: $400 + $50 with added smart thermostat
Heat Pump Water Heater: $350
Attic Insulation or Attic Air Sealing: $250
Duct Sealing: $100
Variable-Speed Pool Pumps: $300
Incentive Type: Performance-Based Incentive
Website: ncgreenpower.orgIncentive Amount:
Varies by technology and system size
PV larger than 5 kW: must enter bid process
Wind up to 10 kW: $0.09/kWh
Wind larger than 10 kW: must enter bid process
Incentive Type: Loan Program
Incentive Type: Green Building Incentive
Incentive Amount:
Authorized by legislation for green buildings. Actual permit process to be determined by local government.
Incentive Type: Rebate Program
Website: duke-energy.comIncentive Amount:
Central A/C or Heat Pump: $300 - $400 + 50 with smart thermostat
Geothermal Heat Pumps: $400 + 50 with smart thermostat
Heat Pump Water Heater: $350
Attic Insulation & Air Sealing: $250
Duct Sealing: $100
Pool Pump: $300
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 Apex
The more thorough your provider search is, the better your photovoltaic system will ultimately function. Consider each of these aspects in your business search.
Licensing and Training
A licensed electrical contractor in North Carolina may manage home solar PV installations in North Carolina if they have the appropriate classification from the North Carolina State Board of Examiners of Electrical Contractors. Solar installers can also earn certificates from standards organizations and trade groups. The top ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Apex
The kind of solar panels you choose determines how much energy you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can enhance your solar system's efficiency. Not every solar contractor offers these optional components, so look for a contractor that installs them if it's important for you.
You can expect to pay about $17,550 on average for a five-kilowatt solar energy system in Apex. Use the table in this section to get an idea of what amount Apex solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,155 |
| Solar Polycrystalline | $901 |
| Thin-Film | $527 |
| Solar Battery | $739 |
| Solar Home EV Charger | $2,772 |
Financing Solar Energy in Apex
Solar contractors offer 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, power purchase agreements (PPAs), solar leases and cash payments. 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. Like a home or auto loan, you'll pay a set monthly rate with as little as $0 down. Solar leases let you rent your panels for a set monthly rate, while PPAs let you pay just for the energy you use, similar 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. Look for providers that offer several payment plans to find the right fit for your wallet.
The table below lists the average payback periods for different capacities of solar systems in Apex.
The IRS allows you to claim a 26% federal solar tax credit on the full cost of the solar system, so long as you purchase it before 2032. Local governments and utilities might also offer their own financing programs, incentives, and rebates that could save you more money.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.1 years |
| 2 kW | 4.2 years |
| 5 kW | 10.4 years |
| 10 kW | 20.8 years |
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Frequently Asked Questions About Solar in Apex
How much money could I save by going solar in Apex?
Is solar energy common in Apex?
Will solar energy systems increase my Apex home price?
How can I evaluate my home's solar feasibility?
What maintenance do my solar panels need, and how often do they need it?
What's the average solar system size in Apex?
How are traditional solar loans and PPAs different?
You might consider a PPA if you don’t want to be responsible for maintaining your panels and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any solar financial incentives. Many solar experts don’t recommend PPAs. Our guide covers other payment options above.
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