Benefits of Solar Energy
Solar energy provides multiple perks. Here are some highlights.
- Lower energy bills: Generating some or all of your own electricity will save you money on your electric bills long-term. Plus, some states provide net metering programs that enable you to sell your extra energy back to the grid, generating additional credits toward your energy bill.
- Better energy independence: Solar panel systems with battery backups and storage systems work through blackouts and emergencies, and you won't have to rely on the electrical grid for your safety and well-being.
- Reduced carbon footprint: Embracing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Fayetteville Homeowners?
North Carolina homeowners who choose solar could qualify for reimbursements, tax credits, special financing and rebates. Here are just a few of the area's incentive offerings.
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: 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: lumbeeriver.comIncentive Amount:
Ground source heat-pump - $17,000
Air-source heat pump - $8,000
Thermal windows and doors - $4,000
Storm windows and doors - $2,000
Insulation (floors, ceilings & walls) - $2,000
Installation/sealing of ducts - $2,000
Attic ventilation fans - $500
Foundation vents - $500
Solar water heater - $7,000
Heat pump water heater - $7,000
Marathon water heater - $2,000
Efficient steel water heater - $500
Incentive Type: Rebate Program
Website: fourcty.orgIncentive Amount:
Heat Pump Water Heater: $300/unit
Clothes Washer: $50/unit
Clothes Dryer: $50/unit
Dishwasher: $50/unit
Refrigerator: $50/unit
Freezer: $50/unit
Heat Pump (16 SEER or higher): $100/ton
Solar Water Heater: $1,000/unit
Incentive Type: Rebate Program
Website: lumbeeriver.comIncentive Amount:
Air sealing: $25
Duct sealing/replacement: $50
Insulation: $100
HERO Home: $200
Central A/C: $15 or 5.90% interest rate for a loan
Heat Pump: $60 or 5.80% interest rate for a loan
Geothermal Heat Pump: $250 or 5.60% interest rate for a loan
Incentive Type: Rebate Program
Website: sremc.comIncentive Amount:
$150
Incentive Type: Rebate Program
Website: sremc.comIncentive Amount:
Pool Pump: $50
ENERGY STAR Appliances: $10/appliance
Heat Pump Water Heater: $200
Solar Water Heater: $150
Air Sealing: $75 (Single Family Homes); $100 - $200 (Manufactured Homes)
Attic Insulation: $75
Duct Sealing: $100 - $200
Roof Insulation: $100 - $200
Floor Insulation: $100 - $200
3rd Party Weatherization: $200
Air Source Heat Pump: $200/unit
Electric Furnace: $400 - $500/unit
Geothermal Heat Pump: $250
Ductless Mini-Split Heat Pump: $200 - $400
HERO Homes: $200 - $600
Smart Thermostat: $20
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 Fayetteville
The more thorough your provider search is, the better your solar installation will ultimately perform. Make your choice based on the following essential elements.
Licensing and Training
A licensed electrical contractor in North Carolina may oversee home solar photovoltaic installations in North Carolina if they have the appropriate classification from the North Carolina State Board of Examiners of Electrical Contractors. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Fayetteville
The style of solar panels you select dictates how much electricity you can produce. 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.
If you want to charge an electric vehicle (EV) or use your solar power in dark weather, you can pay extra for add-ons. By selecting the right components, you can make your system more effective and convenient to use. Not every solar provider includes these add-ons, so look for a contractor that sells them if it's important for you.
A majority of Fayetteville homeowners choose solar systems designed 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 | $1,030 |
Solar Polycrystalline | $804 |
Thin-Film | $470 |
Solar Battery | $659 |
Solar Home EV Charger | $2,473 |
Financing Solar Energy in Fayetteville
There are numerous ways to pay for a new solar system, and the right one will reduce your expenses. A few of the most common options include power purchase agreements (PPAs), cash payments, loans, and leases. Though it requires a large up-front payment, cash is the most cost-effective choice because it doesn't accrue interest and qualifies you for incentives. 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 rent your panels for a set monthly rate, while PPAs let you pay only 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. Look for providers that offer multiple payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Fayetteville.
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 | 4.2 years |
5 kW | 10.4 years |
10 kW | 20.8 years |
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Frequently Asked Questions About Solar in Fayetteville
How much money could I save by going solar in Fayetteville?
Is solar energy easily accessible in Fayetteville?
Will a solar PV system boost my Fayetteville home value?
What if I live in a rainy or dark
How long is a Fayetteville solar panel's average lifespan?
What upkeep do my solar panels need, and how often do they need it?
How can I maximize 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
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