Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Better energy independence: Solar energy can keep your home functioning through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery storage system.
- Reduced energy costs: Generating some or all of your own electricity will save you money on your electric bills long-term. Plus, some states offer net metering programs that allow you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
What Solar Incentives Are Available to Mooresville Homeowners?
Governments and utilities often incentivize homeowners for adopting solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
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: 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 Mooresville
The cost and effectiveness of solar panels often rely on the provider that mounted them. Here are some important factors to consider while shopping for a solar company.
Licensing and Training
A licensed electrical contractor in North Carolina may supervise home solar photovoltaic installations in North Carolina if they have the relevant classification from the North Carolina State Board of Examiners of Electrical Contractors. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most trusted trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Mooresville
Your photovoltaic panels' model will impact how much power you can generate. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
If you'd like to charge an electric car or use your solar power in dark weather, you can pay extra for accessories. By choosing the right components, you can make your system more efficient and convenient to use. Not all solar contractors provide these additional features, so look for a company that sells them if it's a priority for you.
If you're a resident of Mooresville and want a five-kilowatt solar energy system, you could plan to spend about $17,550 for materials and labor. Find more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,057 |
Solar Polycrystalline | $825 |
Thin-Film | $482 |
Solar Battery | $677 |
Solar Home EV Charger | $2,537 |
Financing Solar Energy in Mooresville
There are various ways to pay for a new solar system, and the right one will minimize your overhead. A few of the most common options include cash payments, leases, loans, and power purchase agreements (PPAs). Though it requires a large up-front payment, cash is the most cost-effective choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the second most effective 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 involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate based only on the energy you use, like an electric bill. We typically don’t recommend these two options because you won't own the solar system and are disqualified from using solar incentives. We suggest working with a contractor that offers multiple financing options. Talk to each representative about what's available, and get more than one estimate for the best odds of staying within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Mooresville.
A 26% federal solar tax credit applies to new residential solar equipment purchased through 2032. Further 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 Mooresville
How much energy and money could I save per year by switching to solar?
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Will solar panels increase my Mooresville home value?
What if I live in a dark or gloomy
How can I evaluate my property's solar viability?
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Should I get quotes from multiple Mooresville solar companies?
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