Benefits of Solar Energy
Solar energy provides multiple advantages. Here are some highlights.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems operate through power outages and emergencies, and you won't have to rely on the grid for your safety and well-being.
- Reduced carbon footprint: Adopting solar is a surefire way to reduce your carbon footprint and home fossil fuel dependency.
- Lowered energy bills: You can skip the expensive cost of grid-tied power by generating some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back to help pay for your energy bill.
What Solar Incentives Are Available to Norman Homeowners?
The state of Oklahoma offers numerous solar incentives to help minimize your solar system costs. Check out a breakdown of eligible solar programs where you live.
Incentive Type: Rebate Program
Website: okcoop.orgIncentive Amount:
Air-source Heat Pumps: $125 - $325/ton
Geothermal Heat Pumps: $375-$1050/ton
Desuperheater: $225/unit
Electric Water Heaters: $180
Commercial LED Retrofit: contact Randy Harnsberger at (405) 217-6705
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 Norman
The more informed your provider search is, the better your photovoltaic system will ultimately function. Make your choice based on the following important considerations.
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. Solar providers can also pursue accreditations from trade groups and standards organizations. The most prestigious 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 Norman
Your photovoltaic panels' model will impact how much energy you can produce. 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 have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can boost your solar system's performance. Not every solar provider includes these extras, so look for a contractor that sells them if it's a priority for you.
If you're a resident of Norman and are considering getting a five-kilowatt solar energy system, you could expect to pay about $15,650 for materials and labor. See more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,055 |
Solar Polycrystalline | $823 |
Thin-Film | $481 |
Solar Battery | $675 |
Solar Home EV Charger | $2,533 |
Financing Solar Energy in Norman
There are various 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, cash payments, loans, and power purchase agreements (PPAs). Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Much like an auto or home loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to use your panels for a fixed 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. We advise working with a company that offers multiple financing options. Speak with each agent about what's available, and obtain more than one estimate for the best odds of keeping within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Norman.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. City and state officials and utility companies might also offer rebates, discounts, and specialized financing options that could save you more.
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 Norman
How much money could I save by going solar in Norman?
How widespread is solar energy in Norman?
Should I anticipate a boost in my property value after going solar?
What if I live in a gloomy or heavily-wooded
How can I determine my property's solar feasibility?
How long does it take to pay back a solar loan in Norman?
What are some "red flags" to watch for as I research companies?
- Aggressive sales pitch
- Being evasive about credentials and training, warranties, cost and references
- Limited or no customization
- Rushing through the site assessment
- Limited customer feedback
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