Benefits of Solar Energy
Solar energy offers multiple benefits. Let's look at a few of them.
- Reduced carbon footprint: Adopting solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Better energy independence: Solar energy can keep your home powered through blackouts and emergencies. You can use your solar energy anytime with optional battery backup.
- Lowered energy bills: You can avoid the added cost of grid-tied power by creating some electricity right where you use it. Plus, many states provide net metering which can allow you to sell your unused energy back for credits on your bill.
What Solar Incentives Are Available to Altoona Homeowners?
Pennsylvania's public agencies and power companies offer multiple solar incentives to help reduce your solar system costs. Here's a breakdown of eligible solar programs where you live.
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: Rebate Program
Website: energysavepa-home.comIncentive Amount:
$500
Incentive Type: Rebate Program
Website: firstenergycorp.comIncentive Amount:
Appliances
Refrigerator: $75
Clothes Washer: $25- $50
Clothes Dryer: $50
Freezers: $25
Dehumidifiers: $25
Fridge/Freezer Recycling: $50
HVAC
HVAC tune up: $50
Furnace Fan Motor: $150
Ductless Minisplit AC : $200
Central AC: $100 - $200
Air Source Heat pump: $250 - $500
Geothermal Heat Pump: $600
Packaged Terminal AC: $75
Packaged Terminal Heat Pump: $150
Programmable Thermostat: $25
Others
Solar Water Heat: $500
Heat Pump Water Heater: $500
Home Energy Audit: $250
Lighting: Available as in-store discount in participating stores
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 Altoona
The cost and effectiveness of solar panels often hinge on which company mounted them. Here are some essential aspects to remember while shopping 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. Solar installers can also earn certifications from standards organizations and trade groups. The most prestigious ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Altoona
Your solar panels' style will influence 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.
Additional accessories, such as battery storage and electric vehicle (EV) chargers, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies include these extras, so look for a provider that installs them if it's essential for you.
You can expect to pay about $17,750 on average for a five-kilowatt solar energy system in Altoona. Check the table in this section to get an idea of the amount Altoona solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,150 |
| Solar Polycrystalline | $897 |
| Thin-Film | $524 |
| Solar Battery | $736 |
| Solar Home EV Charger | $2,759 |
Financing Solar Energy in Altoona
There are various ways to pay for a new solar system, and the right one will lower your costs. A few of the most common options include power purchase agreements (PPAs), loans, cash payments, and leases. 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 potentially $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. Ask each business you're considering about the payment plans it offers. A representative 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 Altoona.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. Municipal and state governments and utility companies might also offer rebates, discounts, and unique financing solutions that could save you 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 Altoona
How much energy and money could I save per year by switching to solar?
Is solar energy common in Altoona?
Should I anticipate a boost in my property value after switching to solar energy?
What can I do to assess my home's solar potential?
Is solar panel installation a fast job?
How do I care for my new solar system?
What is "net metering," and how does it work?
Some states or energy providers mandate you to join net metering when installing your solar system, while others give you a choice. Either way, once you sign up, you'll get a bill credit or check for your excess generation at a retail or wholesale rate.
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