Benefits of Solar Energy
Solar energy offers multiple advantages that will enhance your home for years to come.
- Lower utility costs: Generating some or all of your own electricity will save you money on your electric bills long-term.
- Reduced carbon footprint: The sun is the universe's most abundant clean energy source, meaning you can reduce or eliminate your home's dependence on "traditional" sources.
- Better energy independence: Solar energy can keep your home running through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
What Solar Incentives Are Available to Moore Homeowners?
Governments and power companies often incentivize homeowners for adopting solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
Incentive Type: Rebate ProgramWebsite: okcoop.org
Air-source Heat Pumps: $125 - $325/ton
Geothermal Heat Pumps: $375-$1050/ton
Electric Water Heaters: $180
Commercial LED Retrofit: contact Randy Harnsberger at (405) 217-6705
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
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 Moore
The more thorough your company investigation is, the better your solar system will ultimately operate. Consider each of these aspects in your contractor search.
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 projects as different from any other electrical job. Solar companies can also earn accreditations from trade groups and standards organizations. The most recognized 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 Moore
Your photovoltaic panels' model will influence how much energy you can produce. Monocrystalline panels perform the best but cost the most. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
Additional components, such as battery storage and electric vehicle (EV) chargers, will increase your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies provide these extras, so look for a provider that installs them if it's crucial for you.
Most Moore homeowners choose solar systems sized for five kilowatts (kW) of electrical capacity. These systems run about $15,650 to set up, considering both parts and installation. You can see more specific cost information in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Moore
There are a plethora of ways to pay for a solar energy system, and the right one will minimize your overhead. A few of the most common options include leases, loans, power purchase agreements (PPAs), and cash payments. 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 home or auto loan, 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) permits you to 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 panels and are disqualified from using solar incentives. Ask each installer you're considering about the payment options it offers. A team member can help you determine the best option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Moore.
A 26% federal tax credit applies to new home solar systems purchased through 2032. Additional incentives may be available through local governments, usually in the form of rebates and special financing programs.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Moore
How much money could I save by going solar in Moore?
Is solar energy easily accessible in Moore?
Will solar panels boost my Moore home worth?
What if I live in a gloomy or rainy
What's the average solar system size in Moore?
What is the average payback period for Moore solar panels?
What's the difference between a PPA and traditional financing?
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 financing options above.
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