Benefits of Solar Energy
Solar energy offers multiple perks. Here are some highlights.
- Lowered energy bills: You can dodge the premium cost of grid-tied power by creating some electricity at home. Plus, many states offer net metering which can allow you to sell your unused energy back to credit part of your bill.
- Better energy independence: Adding a solar battery storage system lets you have dependable energy during storms and grid outages.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
What Solar Incentives Are Available to Murfreesboro Homeowners?
Governments and power companies often incentivize homeowners for going solar. Here are some of the tax credits, rebates, 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 Murfreesboro
The more informed your provider search is, the better your photovoltaic system will ultimately operate. Make your choice based on the following vital 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 required. Even if a project doesn't cross the $25,000 value threshold, you'll need a master electrician or electrical journeyman to handle permit work. Solar installers can also pursue accreditations from trade groups and standards organizations. 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 Murfreesboro
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.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can increase your solar system's efficiency. Not all solar contractors offer these optional components, so look for a company that installs them if it's important for you.
Generally speaking, it will cost about $17,900 for a five-kilowatt solar array in Murfreesboro. This table shows more specific prices for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,143 |
Solar Polycrystalline | $892 |
Thin-Film | $521 |
Solar Battery | $732 |
Solar Home EV Charger | $2,744 |
Financing Solar Energy in Murfreesboro
Solar providers offer multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are solar leases, solar loans, cash payments and power purchase agreements (PPAs). Most solar experts recommend a cash payment 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. Like an auto or home loan, you'll pay a set monthly rate with as little as $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 will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in specific circumstances. We advise working with a provider that offers multiple financing options. Talk to each agent about what's available, and acquire more than one estimate for the best odds of staying within your budget.
The table below lists the average payback periods for different capacities of solar systems in Murfreesboro.
A 26% federal solar tax credit applies to recently-purchased solar equipment purchased through 2032. Extra incentives may be available through city and state 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 Murfreesboro
How much money could I save by going solar in Murfreesboro?
How popular is solar energy in Murfreesboro?
Should I anticipate a property value increase after switching to solar energy?
How can I evaluate my home's solar feasibility?
How long will an average solar system last?
Is solar installation a fast job?
How can I enhance my solar panels' performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
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