Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Reduced carbon footprint: Adopting solar is a surefire way to reduce your carbon footprint and home fossil fuel dependency.
- Better energy independence: Solar energy can keep your home running through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with optional battery backup.
- Lower energy bills: Producing some or all of your own power will spend less on electricity long-term. Plus, some states offer net metering programs that enable you to sell your surplus energy back to the grid, generating additional credits toward your energy bill.
What Solar Incentives Are Available to Jackson Homeowners?
Governments and power companies often incentivize homeowners for embracing solar. Here are some of the rebates, tax credits or other programs you could qualify for.
Incentive Type: Property Tax Incentive
Incentive Amount:
Depends upon sector
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 Jackson
Choosing a company is the first step toward a well-oiled and cost-efficient solar array. Make your choice based on the following key factors.
Licensing and Training
Tennessee requires any solar energy project valued at $25,000 or higher to be overseen by a licensed "prime contractor." The prime contractor is responsible for hiring licensed subcontractors as the project demands. Even if a project doesn't cross the $25,000 value threshold, you will still need a master electrician or electrical journeyman to handle permit work. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Jackson
Your solar panels' style will affect how much power 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.
If you'd like to charge an electric vehicle (EV) or use your solar power in inclement weather, you can pay extra for add-ons. By choosing the right components, you can make your system more productive and convenient to use. Not every solar provider offers these additional features, so look for a company that sells them if it's important for you.
Generally speaking, it costs about $17,900 for a five-kilowatt solar array in Jackson. This table lists more specific costs for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,018 |
| Solar Polycrystalline | $794 |
| Thin-Film | $464 |
| Solar Battery | $651 |
| Solar Home EV Charger | $2,442 |
Financing Solar Energy in Jackson
Solar contractors use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), cash payments, solar loans and solar leases. Though it involves a large up-front payment, cash is the most economical choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the second most effective option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a power purchase agreement lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in specific circumstances. We suggest working with an installer that offers multiple financing options. Talk to each consultant about what's available, and acquire more than one estimate for the best odds of keeping within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Jackson.
A 26% federal solar tax credit applies to new home solar systems 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 | 2.4 years |
| 2 kW | 4.8 years |
| 5 kW | 12.1 years |
| 10 kW | 24.1 years |
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Frequently Asked Questions About Solar in Jackson
How much money could I save by going solar in Jackson?
How prevalent is solar energy in Jackson?
Will solar energy systems raise my Jackson home value?
How long will a standard solar system last?
What's the average solar system size in Jackson?
How long does it take to pay back a solar loan in Jackson?
What is "net metering," and how does it work?
How are traditional solar loans and PPAs different?
You might look into a PPA if you don’t want to be responsible for maintenance and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any cost-saving solar incentives. Many solar experts don’t recommend PPAs. Our guide covers other payment options above.
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