Benefits of Solar Energy
Solar energy offers numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, reducing your periodic electricity costs. You can eliminate your bills completely if you go off-grid. 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.
- Better energy independence: Adding a battery backup or storage system lets you have dependable energy during grid outages and storms.
What Solar Incentives Are Available to Enid Homeowners?
Oklahoma homeowners who decide on solar could qualify for reimbursements, rebates, tax credits and special financing. Here are just a few of the local incentive offerings.
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 Enid
The more comprehensive your company investigation is, the better your solar system will ultimately function. Here are some important factors to bear in mind while searching for a solar installer.
Licensing and Training
So long as a contractor has an electrician's license from the Oklahoma Construction Industries Board, they may perform solar energy work. The state doesn't treat solar panel installations as different from any other electrical job. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Enid
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional accessories, such as electric vehicle (EV) chargers and battery storage, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar provider offers these optional components, so look for a provider that installs them if it's crucial for you.
Generally speaking, it will cost about $15,650 for a five-kilowatt solar array in Enid. This table lists more specific prices for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,060 |
| Solar Polycrystalline | $827 |
| Thin-Film | $483 |
| Solar Battery | $678 |
| Solar Home EV Charger | $2,544 |
Financing Solar Energy in Enid
Choosing the best financing plan will affect your overall solar system cost and potential savings. Common payment options include leases, cash payments, power purchase agreements, and loans. We recommend making a cash payment or using a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in installments while still enjoying energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) allows you to pay a monthly rate determined by the energy you use, akin to an electric bill. We typically don’t recommend these two choices because you won't own the solar system and are disqualified from using solar incentives. Ask each business you're vetting about the financing options it offers. A team member can help you determine the most suitable option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Enid.
The IRS allows you to claim a 26% federal tax credit for solar panels on the full cost of the solar system, so long as you purchase it before 2032. City and state governments and utilities might also offer their own rebates, incentives, and financing programs that could save you more money.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.3 years |
| 2 kW | 4.5 years |
| 5 kW | 11.3 years |
| 10 kW | 22.7 years |
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Frequently Asked Questions About Solar in Enid
How much energy and money could I save per year by switching to solar?
How popular is solar energy in Enid?
Will solar energy systems boost my Enid home price?
Could I still use solar power if I live in a dark, wooded, or rainy area?
What's a Enid solar panel's average lifespan?
What's the average solar system size in Enid?
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make set monthly payments.
With both leases and PPAs, you don't 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.
Should I get quotes from multiple Enid solar companies?
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