Benefits of Solar Energy
Solar energy offers multiple advantages. Let's look at a few of them.
- Reduced carbon footprint: Embracing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Lower energy bills: Sourcing some or all of your own power will cut power costs long-term.
- Better energy independence: Adding a solar battery lets you have trustworthy energy during storms and grid outages.
What Solar Incentives Are Available to McMinnville Homeowners?
Oregon homeowners who choose solar could qualify for special financing, tax credits, reimbursements and rebates. Here are just a few of the local incentive offerings.
Incentive Type: Rebate ProgramWebsite: portlandgeneral.com
Heat Pump Instant Discount: $200
Efficient Heat Pumps: $700
Heat Pump Controls: $250
Ductless Heat Pump: $800
Smart Thermostat: $50-$100
Heat Pump Water Heaters: $500 (special pricing available at certain retailers as well)
Incentive Type: Rebate ProgramWebsite: insider.energytrust.org
Varies based on performance above code and the particular energy efficient measures installed; can range from $600 to $4,680
Solar ready incentive: up to $200
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 McMinnville
The price and performance of solar panels often rely on the solar company that installed them. Consider all of these criteria in your contractor search.
Licensing and Training
Solar contractors in Oregon must be licensed and bonded according to the terms of the Oregon Construction Contractors Board. For PV installations, each standard journeyman on the job will have at least 8,000 hours of hands-on experience and must keep up with continuing education requirements. Installers of solar thermal systems must be either a licensed solar heating installer and a plumbing journeyman. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of 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 McMinnville
Your solar modules' style will impact how much energy you can produce. Monocrystalline panels cost the most but perform the best. 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.
Additional components, such as electric vehicle (EV) chargers and battery storage, will add to your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors include these extras, so look for a contractor that installs them if it's crucial for you.
Generally speaking, it will cost about $17,500 for a five-kilowatt solar array in McMinnville. This table shows more specific pricing information for different solar panel types and system components in your area.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in McMinnville
There are numerous ways to pay for new solar panels, and the right one will reduce your expenses. A few of the most common options include cash payments, power purchase agreements (PPAs), leases, and loans. 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 incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a home or auto loan, you'll pay a set monthly rate with 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 determined by the energy you use, like an electric bill. We usually don’t recommend these two choices because you won't own the panels and are disqualified from using solar incentives. Look for companies that offer two or more payment plans to find the right fit for your financial needs.
The table below lists the average payback periods for different capacities of solar systems in McMinnville.
The IRS allows you to claim a 26% federal tax credit on total system costs, so long as you purchase it before 2032. Local governments and utilities might also offer their own rebates, financing programs, and incentives that could save you more money.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in McMinnville
How much energy and money could I save per year by switching to solar?
Is solar energy common in McMinnville?
Will solar panels boost my McMinnville home value?
Could I still use solar power if I live in a wooded, rainy, or dark area?
How do I care for my new solar system?
What's the average solar system size in McMinnville?
What is "net metering," and how does it work?
Should I get quotes from multiple McMinnville solar companies?
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