Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Lowered energy bills: You can avoid the premium cost of grid-tied power by generating some electricity right where you use it.
- 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 optional battery backup.
- Reduced carbon footprint: The sun is a highly abundant clean energy source, meaning you can lower or beat your home's dependence on "traditional" sources.
What Solar Incentives Are Available to Plano Homeowners?
Governments and power companies often reward homeowners for switching to solar. Here are some of the tax credits, rebates, 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 Plano
The more comprehensive your company investigation is, the better your solar installation will ultimately perform. Consider all of these criteria in your service provider search.
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 companies can also obtain certifications from trade groups and standards organizations. The top 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 Plano
Your photovoltaic panels' type will affect how much power you can produce. Monocrystalline panels cost the most but perform the best. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total project price, but they can enhance your solar system's performance. Not all solar providers provide these optional components, so look for a company that sells them if it's important for you.
Generally speaking, it costs about $16,650 for a five-kilowatt solar array in Plano. This table shows 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 Plano
Choosing the best financing solution will influence your overall solar system cost and possible savings. Common payment options include cash payments, loans, power purchase agreements, 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 next best 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 pay a monthly rate to rent your panels, while a power purchase agreement lets you pay a fluctuating rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be suitable in specific circumstances. Look for providers that offer multiple payment plans to find the right fit for your wallet.
The table below lists the average payback periods for different capacities of solar systems in Plano.
You are eligible for a 26% federal tax credit for new solar energy equipment until the year 2032. Municipal and state governments and utility companies might also offer rebates, discounts, and dedicated financing plans that could save you more.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Plano
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in Plano?
Will solar panels raise my Plano home worth?
How many years will a standard solar system last?
How long does the solar panel installation process last?
What is the average payback period for Plano solar panels?
How does "net metering" work, and do I need to participate?
What are the signs I shouldn't use a particular solar company for my job?
- Aggressive sales pitch
- Dodging questions about cost, credentials and training, warranties and references
- "One-size-fits-all" approach
- Superficial, rushed site evaluation
- Limited online information
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