Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Better energy independence: Solar energy can keep your home functioning through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with an optional battery storage system.
- Reduced carbon footprint: Using clean solar power reduces your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Lowered energy bills: With solar panels, you create power without paying the tacked-on costs of grid-connected power. You can eliminate your bills completely if you go off-grid. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Midland Homeowners?
The state of Texas offers numerous solar incentives to help lower your solar system costs. Here's a breakdown of relevant solar programs where you live.
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: 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 Midland
Choosing a company is the first step toward a well-oiled and cost-efficient solar energy system. Here are some key items to consider while shopping for a solar provider.
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 accreditations. Two of the most recognized are the PV Installation Professional and Solar Heating Installer certificates, awarded 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 Midland
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 provide a lower price point but produce less power. 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 performance. Not all solar companies offer these extras, so look for a contractor that installs them if it's essential for you.
Generally speaking, it will cost about $16,650 for a five-kilowatt solar array in Midland. This table displays more specific pricing information for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,266 |
| Solar Polycrystalline | $988 |
| Thin-Film | $577 |
| Solar Battery | $811 |
| Solar Home EV Charger | $3,039 |
Financing Solar Energy in Midland
Choosing the best financing solution will affect your overall solar system cost and expected savings. Common payment options include cash payments, leases, power purchase agreements, and loans. We suggest paying with cash or securing a solar loan for the best return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to cut your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still benefiting from energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases let you use your panels for a fixed 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 business you're considering about the financing options it offers. A consultant can help you determine the optimal option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Midland.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. City and state officials and utility companies might also offer rebates, discounts, and dedicated financing plans that could save you more.
| 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 Midland
How much money could I save by going solar in Midland?
Is solar energy readily available in Midland?
Should I anticipate a boost in my property value after switching to solar energy?
How long is a Midland solar panel's average lifespan?
What's the average solar system size in Midland?
How long does it take to pay back a solar loan in Midland?
What are the signs I shouldn't use a particular solar company for my job?
- High-pressure sales tactics
- Dodging questions about training and credentials, references, warranties and cost
- Inflexible options
- Rushing through the site assessment
- Limited customer feedback
What's the difference between a PPA and traditional financing?
You might think about a PPA if you don’t want to be responsible for maintaining your panels 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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