Benefits of Solar Energy
Solar energy comes with multiple perks. Let's look at a few of them.
- Lowered energy bills: Solar panels allow you to generate your own energy to power your home, reducing your regular electricity costs. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
- Better energy independence: Solar panel systems can keep your home powered through blackouts and emergencies. You can use your solar energy anytime with an optional battery backup system.
- Reduced carbon footprint: Using solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Columbia Homeowners?
South Carolina homeowners who choose solar could qualify for rebates, special financing, reimbursements and tax credits. Here are just a few of the area's incentive offerings.
Incentive Type: Rebate Program
Website: duke-energy.comIncentive Amount:
Central A/C or Heat Pump: $300 - $400 + 50 with smart thermostat
Geothermal Heat Pumps: $400 + 50 with smart thermostat
Heat Pump Water Heater: $350
Attic Insulation & Air Sealing: $250
Duct Sealing: $100
Pool Pump: $300
Incentive Type: Property Tax Incentive
Incentive Amount:
100% exemption
Incentive Type: Rebate Program
Website: santeecoopersolar.comIncentive Amount:
Residential and Commercial: $1.05/W
Non-Profit: $1.30/W
Incentive Type: Corporate Tax Credit
Website: energy.sc.govIncentive Amount:
25% of eligible costs
Incentive Type: Personal Tax Credit
Website: energy.sc.govIncentive Amount:
25% of eligible costs
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 Columbia
The purchase price and effectiveness of solar panels often rely on the provider that installed them. Consider all of these elements in your contractor search.
Licensing and Training
South Carolina regulations differentiate between mechanical and general contractors for solar energy work. A licensed mechanical contractor can install or repair any solar PV system rated for between 50 and 600 volts if they have an electrical Certificate of Authorization. Solar thermal installers need a Certificate of Authorization in plumbing and a supervising licensed plumber on their team. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most trusted trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Columbia
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options 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.
If you want to charge an electric vehicle (EV) or use your solar power in cloudy weather, you can pay extra for accessories. By selecting the right components, you can make your system more productive and user-friendly. Not every solar provider provides these additional features, so look for a provider that installs them if it's important for you.
Most Columbia homeowners choose solar systems sized for five kilowatts (kW) of electrical capacity. These systems cost about $17,250 to set up, considering both materials and labor. You can see more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,132 |
Solar Polycrystalline | $883 |
Thin-Film | $516 |
Solar Battery | $724 |
Solar Home EV Charger | $2,716 |
Financing Solar Energy in Columbia
There are a plethora of ways to pay for new solar panels, and the right one will minimize your overhead. A few of the most common options include loans, power purchase agreements (PPAs), leases, and cash payments. Most solar experts recommend paying cash or using a solar loan. Cash payments require 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 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. We suggest working with an installer that offers multiple financing options. Ask each consultant about what's available, and obtain more than one estimate for the best odds of staying within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Columbia.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Local and state governments and utility companies might also offer discounts, rebates, and specialized financing options that could save you more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 1.9 years |
2 kW | 3.8 years |
5 kW | 9.5 years |
10 kW | 19.0 years |
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Frequently Asked Questions About Solar in Columbia
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in Columbia?
Will solar energy systems increase my Columbia home worth?
What if I live in a dark or gloomy
How do I care for my new solar system?
What is the average payback period for Columbia solar panels?
How are a solar lease and PPA different?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
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