Benefits of Solar Energy
Solar energy offers multiple perks. Let's look at a few of them.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- 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: Adding a solar battery lets you have reliable energy during storms and grid outages.
What Solar Incentives Are Available to Richardson Homeowners?
Governments and power companies often reward 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 Richardson
The price and efficiency of solar panels often depend on the provider that installed them. Make your choice based on the following important considerations.
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 prestigious are the PV Installation Professional and Solar Heating Installer certificates, backed 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 Richardson
The kind of solar panels you purchase decides how much power you can generate. Monocrystalline panels cost more but give you the best performance. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't the best for large residential installations, but they are excellent accessories for non-traditional roofs.
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 efficiency. Not every solar company includes these optional components, so look for a provider that sells them if it's important for you.
If you're a resident of Richardson and are looking into a five-kilowatt solar energy system, you could plan to spend about $16,650 for materials and labor. Find more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Richardson
Choosing the correct financing plan will affect your overall solar system cost and possible savings. Common payment options include loans, cash payments, leases, and power purchase agreements. Though it requires a large up-front payment, cash is the most affordable choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best option. As with a car loan or mortgage, 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 fee 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 certain circumstances. We advise working with a contractor that offers multiple financing options. Talk to each consultant about what's available, and get more than one estimate for the best odds of staying within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Richardson.
A 26% federal tax credit applies to new residential solar equipment purchased through 2032. Further 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
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Richardson
How much energy and money could I save per year by switching to solar?
How popular is solar energy in Richardson?
Will a solar PV system raise my Richardson home price?
How long does a common solar system last?
What's the average solar system size in Richardson?
What is the average payback period for Richardson solar panels?
How can I enhance my solar system's 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
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, cost, references and warranties
- Limited or no customization
- Superficial, rushed site evaluation
- More mixed or negative reviews than positive ones
To share feedback or ask a question about this article, send a note to our Reviews Team at firstname.lastname@example.org.