Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems function through power outages and emergencies, and you won't have to rely on the power grid for your safety and comfort.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can reduce or eliminate your home's dependence on fossil fuels.
- Lowered energy bills: With solar energy systems, you generate power without paying the tacked-on costs of grid-connected power. Going off-grid can eliminate your bills completely. Plus, a significant amount of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Abington Homeowners?
Pennsylvania homeowners who go solar could qualify for tax credits, special financing, rebates and reimbursements. Here are just a few of the local incentive programs.
Incentive Type: Loan Program
Website: newpa.comIncentive Amount:
Residential loans/loan guarantees: $100,000
Commercial loans/loan guarantees: $2 million
Grants: Lesser of 10% of project costs or $500,000
Incentive Type: Loan Program
Website: newpa.comIncentive Amount:
Manufacturer loans: $40,000 per job created within 3 years
Manufacturer grants: $5,000 per job created within 3 years
Loans for geothermal systems: $3 per square foot of space served up to $5 million; also limited to 50% of eligible costs for residential systems.
Loans for wind energy production projects: $5 million
Grants for wind energy production projects: $1 million
Grants for feasibility studies: 50% of cost up to $175,000
Loan guarantee grants: Up to 75% of deficient funds up to $5 million
Incentive Type: Solar Renewable Energy Credit Program
Website: pennaeps.comIncentive Amount:
Varies based on market conditions; during 2015 the market price for PA-sourced SRECs has ranged from approximately $32 - $55/MWh ($0.032 - $0.055/kWh) although individual trades have taken place at substantially lower and higher prices.
Incentive Type: Grant Program
Website: newpa.comIncentive Amount:
Vary by project, but program generally requires matching funds at least equivalent to DCED funding
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 Abington
The price and efficacy of solar panels often rely on the provider that mounted them. Here are some crucial criteria to keep in mind while searching for a solar company.
Licensing and Training
The Commonwealth of Pennsylvania does not issue state-level contracting licenses, so each city or county can set its own requirements and terms. You should also visit a company's website to learn about its private credentials. Two of the most recognized are the Solar Heating Installer and PV Installation Professional certificates, awarded by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Abington
Your solar modules' model will impact how much electricity you can produce. Monocrystalline panels are among the highest quality and 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 accessories, such as battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar provider provides these extras, so look for a company that sells them if it's a priority for you.
Generally speaking, it costs about $17,750 for a five-kilowatt solar array in Abington. This table lists more specific costs for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,161 |
| Solar Polycrystalline | $906 |
| Thin-Film | $530 |
| Solar Battery | $743 |
| Solar Home EV Charger | $2,787 |
Financing Solar Energy in Abington
Choosing the right financing solution will affect your overall solar system cost and potential savings. Common payment options include leases, power purchase agreements, loans, and cash payments. Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid 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. Similar to an auto or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases allow you to use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, much like an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for providers 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 Abington.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own financing plans and rebates that could reduce your total cost even more.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.5 years |
| 2 kW | 5.0 years |
| 5 kW | 12.5 years |
| 10 kW | 25.0 years |
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Frequently Asked Questions About Solar in Abington
How much money could I save by going solar in Abington?
Is solar energy easily accessible in Abington?
Will a solar PV system improve my Abington home worth?
Is installing solar panels a quick job?
How do I care for my new solar system?
What's the average solar system size in Abington?
What is "net metering," and how does it work?
Some states or energy providers require you to join net metering when installing your solar system, while others give you a choice. Either way, once you participate, you'll receive a check or bill credit for your excess generation at a wholesale or retail rate.
What are some "red flags" to watch for as I research companies?
- Pushy sales approach
- Being evasive about references, warranties, credentials and training and cost
- "One-size-fits-all" approach
- Superficial, rushed site evaluation
- More mixed or negative reviews than positive ones
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.
