Benefits of Solar Energy
Solar energy provides multiple benefits. Let's look at a few of them.
- Reduced energy costs: Generating some or all of your own electricity will spend less on electricity long-term. Plus, some states provide net metering programs that enable you to sell your surplus energy back to the grid, generating extra credits toward your energy bill.
- Better energy independence: Photovoltaic solar panel systems with energy storage systems operate through blackouts and emergencies, and you won't have to rely on the power grid for your safety and well-being.
- Reduced carbon footprint: Using clean solar power lowers your dependence on conventional, less environmentally-friendly sources.
What Solar Incentives Are Available to Wilkes-Barre Homeowners?
Governments and utilities often incentivize homeowners for going solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
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 Wilkes-Barre
The more comprehensive your company research is, the better your photovoltaic system will ultimately operate. Make your choice based on the following crucial aspects.
Licensing and Training
There are no state-level contracting licenses issued in the Commonwealth of Pennsylvania, so each city or county can set its own requirements and regulations. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar industry's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Wilkes-Barre
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can improve your solar system's performance. Not every solar company includes these add-ons, so look for a provider that installs them if it's crucial for you.
You can expect to pay about $17,750 on average for a five-kilowatt solar energy system in Wilkes-Barre. Use the table in this section to get an idea of what amount Wilkes-Barre solar companies might quote for your specific solar system's price.
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 Wilkes-Barre
There are various ways to pay for new solar panels, and the right one will minimize your overhead. A few of the most common options include cash payments, loans, leases, and power purchase agreements (PPAs). We suggest making a cash payment or securing a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to minimize your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still enjoying energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate based only on the energy you use, like an electric bill. We usually don’t recommend these two choices because you won't own the solar system and are disqualified from using solar incentives. Ask each provider you're vetting about the financing options it offers. A team member can help you determine the optimal option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Wilkes-Barre.
A 26% federal solar tax credit applies to new residential solar equipment purchased through 2032. Extra incentives may be available through local governments, usually in the form of rebates and special financing programs.
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 Wilkes-Barre
How much money could I save by going solar in Wilkes-Barre?
How common is solar energy in Wilkes-Barre?
Will solar panels increase my Wilkes-Barre home worth?
Could I still use solar power if I live in a dark, rainy, or wooded area?
What care do my solar panels need, and how often do they need it?
What size should my new Wilkes-Barre solar system be?
Should I get quotes from multiple Wilkes-Barre solar companies?
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