Benefits of Solar Energy
Solar energy has several advantages that will enhance your home for years to come.
- Lowered energy bills: You can dodge the added cost of grid-tied power by producing some electricity at home. Plus, many states provide net metering which can allow you to sell your unused energy back to help pay for your energy bill.
- Reduced carbon footprint: Using clean solar power lowers your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Better energy independence: Solar panel systems with battery storage systems function through power outages and emergencies, and you won't have to depend on the power grid for your safety and well-being.
What Solar Incentives Are Available to Frisco Homeowners?
Texas homeowners who decide on solar could qualify for reimbursements, tax credits, special financing and rebates. Here are just a few of the region's incentive programs.
Incentive Type: Property Tax Incentive
Website: comptroller.texas.govIncentive Amount:
100%
Incentive Type: Rebate Program
Website: texasgasservice.comIncentive Amount:
Free Equipment Program: Free appliance installation and weatherization services
Home Improvement (includes attic insulation, duct sealing, duct insulation, duct replacement, high-efficiency gas furnace, and Wi-Fi thermostat: Up to $1000
Solar Water Heater With Natural Gas Backup: $750
Tankless or Super High-efficiency Water Heater: $650
Furnace: $675
Furnace Tune-Up: $40
Natural Gas Dryer with moisture sensor: $225
Natural Gas Dryer Stub: $300
Incentive Type: Rebate Program
Website: support.coserv.comIncentive Amount:
Rebates tiered based on kW installed
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 Frisco
The more comprehensive your provider search is, the better your photovoltaic system will ultimately operate. Make your choice based on the following crucial aspects.
Licensing and Training
All solar installers in Texas must have a state electrical contractors' license from the Texas Department of Licensing and Regulation. The Texas State Board of Plumbing Examiners regulates plumbing regulations and licensing standards for solar thermal installers. Look 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 Frisco
Your photovoltaic panels' model will affect how much electricity you can generate. 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 want to charge an electric vehicle (EV) or use your solar power in inclement weather, you can pay extra for add-ons. By selecting the right components, you can make your panel array more effective and convenient to use. Not all solar contractors include these extras, so look for a contractor that installs them if it's crucial for you.
You can expect to pay about $16,650 on average for a five-kilowatt solar energy system in Frisco. Check the table in this section to get an idea of the amount Frisco solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,176 |
| Solar Polycrystalline | $918 |
| Thin-Film | $536 |
| Solar Battery | $753 |
| Solar Home EV Charger | $2,823 |
Financing Solar Energy in Frisco
There are many ways to pay for a new solar system, 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). Though it involves a large up-front payment, cash is the most economical choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the runner-up option. As with a home or auto loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases let you use your panels for a fixed monthly rate, while PPAs let you pay just for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and do not provide 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. Talk to each salesperson about what's available, and get more than one estimate for the best odds of staying within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Frisco.
The IRS allows you to claim a 26% federal solar tax credit on the full cost of the solar system, so long as you purchase it before 2032. Local governments and utilities might also offer their own incentives, financing programs, and rebates that could save you more money.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.1 years |
| 2 kW | 4.2 years |
| 5 kW | 10.6 years |
| 10 kW | 21.2 years |
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Frequently Asked Questions About Solar in Frisco
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Frisco?
Should I expect a boost in my property value after switching to solar energy?
How many years will an average solar system last?
Is solar installation a fast job?
What is the average payback period for Frisco solar panels?
How are a solar lease and PPA different?
If you choose a lease, you'll make fixed monthly payments.
With both leases and PPAs, you do not own your panels and lose eligibility for most incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
How are traditional solar loans and PPAs different?
In contrast, solar loans can come from installer, local banks, specialty lenders and the government. You'll need to pass a credit check to qualify for most of them. While the upfront costs are higher, and you'll be responsible for maintenance, you'll also have full ownership rights and can apply for many more financial rewards.
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