Benefits of Solar Energy
Solar energy comes with multiple benefits. Let's look at a few of them.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, reducing your monthly electricity costs. Going off-grid can eliminate your bills completely.
- Better energy independence: Adding a solar battery lets you have reliable energy during storms and grid outages.
- Reduced carbon footprint: The sun is one of the universe's most abundant clean energy sources, meaning you can minimize or conquer your home's dependence on non-renewable sources.
What Solar Incentives Are Available to McKinney Homeowners?
Texas homeowners who upgrade to solar could qualify for rebates, reimbursements, special financing and tax credits. Here are just a few of the area's incentive programs.
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 McKinney
The price and efficacy of solar panels often hinge on the solar company that mounted them. Here are some crucial criteria to keep in mind while searching for a solar specialist.
Licensing and Training
All solar contractors 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. Solar providers can also pursue accreditations from standards organizations and trade groups. The most respected 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 McKinney
The style of solar panels you choose determines how much power you can produce. Monocrystalline panels give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. Thin-film panels aren't meant for large home installations, but they're excellent for small projects like sheds and RVs.
Additional system add-ons, such as battery storage and electric vehicle (EV) chargers, will add to your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar companies offer these optional components, so look for a company that installs them if it's crucial for you.
Generally speaking, it costs about $16,650 for a five-kilowatt solar array in McKinney. This table displays more specific pricing information for different solar panel types and system components in your area.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in McKinney
Solar providers use multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are solar loans, solar leases, power purchase agreements (PPAs) and cash payments. Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they help you avoid paying interest, grant you system ownership, and qualify you for cost-saving incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a home or car 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, akin to 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. Ask each company you're considering about the financing options it offers. A team member can help you determine the most suitable option for your budget.
The table below lists the average payback periods for different capacities of solar systems in McKinney.
The IRS allows you to claim a 26% federal tax credit on your new solar panels, so long as you purchase it before 2032. Municipal authorities and utilities might also offer their own financing programs, incentives, and rebates that could save you more money.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in McKinney
How much energy and money could I save per year by switching to solar?
Is solar energy common in McKinney?
Should I expect a boost in my property value after going solar?
How can I assess my site's solar suitability?
How long will a standard solar system last?
What size should my new McKinney solar system be?
How can I maximize 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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