Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: Adopting solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Lower utility costs: Sourcing some or all of your own power will spend less on electricity long-term.
- Better energy independence: Solar energy can keep your home running through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
What Solar Incentives Are Available to Little Elm 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: Rebate ProgramWebsite: texasgasservice.com
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 Tune-Up: $40
Natural Gas Dryer with moisture sensor: $225
Natural Gas Dryer Stub: $300
Incentive Type: Rebate ProgramWebsite: support.coserv.com
Rebates tiered based on kW installed
Incentive Type: Personal Tax CreditWebsite: ecowatch.com
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 Little Elm
The more thorough your provider search is, the better your solar panels will ultimately function. Consider each of these criteria in your service provider search.
Licensing and Training
All solar energy companies 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. You should also visit a company's website to learn about its private credentials. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, granted by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Little Elm
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power. 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.
Additional components, such as electric vehicle (EV) chargers and battery storage, will add to your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies include these optional components, so look for a contractor that sells them if it's essential for you.
If you're a resident of Little Elm and are considering getting a five-kilowatt solar energy system, you could expect to pay about $16,650 for parts and installation. See more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Little Elm
There are various ways to pay for a solar energy system, and the right one will help you decrease overhead. A few of the most common options include cash payments, power purchase agreements (PPAs), loans, and leases. Though it requires 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 car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to use your panels for a fixed 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. Look for contractors that offer several payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Little Elm.
A 26% federal tax credit applies to new home solar systems 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
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Frequently Asked Questions About Solar in Little Elm
How much money could I save by going solar in Little Elm?
Is solar energy common in Little Elm?
Should I expect a property value increase after going solar?
How can I check my site's solar feasibility?
How many years will a standard solar system last?
How long does it take to pay back a solar loan in Little Elm?
How can I boost 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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