Benefits of Solar Energy
Solar energy comes with multiple benefits. Let's look at a few of them.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, minimizing your regular 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.
- Reduced carbon footprint: Embracing solar is a surefire way to reduce your carbon footprint and home fossil fuel dependency.
- Better energy independence: Adding a battery storage system lets you have trustworthy energy during grid outages and storms.
What Solar Incentives Are Available to Burlington Homeowners?
North Carolina agencies and electric companies offer several solar incentives to help lower your solar system costs. Below is a breakdown of relevant solar programs where you live.
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: Loan Program
Website: pemc.coopIncentive Amount:
$10,000
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 Burlington
The more informed your company investigation is, the better your photovoltaic system will ultimately function. Consider each of these elements in your company search.
Licensing and Training
A licensed electrical contractor in North Carolina may manage home solar photovoltaic installations in North Carolina if they have the relevant classification from the North Carolina State Board of Examiners of Electrical Contractors. You should also visit a company's website to learn about its private certifications. Two of the most recognized are the PV Installation Professional and Solar Heating Installer certificates, granted 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 Burlington
The kind of solar panels you choose decides how much power you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. 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 meant for large home installations, but they're excellent for small projects like sheds and RVs.
If you want to charge an electric car or use your solar power in dark weather, you can pay extra for add-ons. By choosing the right components, you can make your system more effective and user-friendly. Not all solar companies provide these extras, so look for a provider that installs them if it's essential for you.
Most Burlington homeowners select solar systems sized for five kilowatts (kW) of electrical capacity. These systems cost about $17,550 to install, considering both parts and installation. You can find more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,078 |
| Solar Polycrystalline | $841 |
| Thin-Film | $492 |
| Solar Battery | $690 |
| Solar Home EV Charger | $2,587 |
Financing Solar Energy in Burlington
Solar installers 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 leases, power purchase agreements (PPAs), cash payments and solar loans. Though it requires 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 next best option. As with a car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put 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, similar 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. Look for companies that offer multiple payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Burlington.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Local and state governments and utility companies might also offer discounts, rebates, and specialized financing options that could save you more.
| 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 Burlington
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Burlington?
Will solar energy systems increase my Burlington home price?
What can I do to assess my home's solar potential?
What is a Burlington solar panel's average lifespan?
Is solar panel installation a quick job?
How can I boost my solar system's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make fixed 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.
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