Benefits of Solar Energy
Solar energy provides 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.
- Better energy independence: Photovoltaic systems with battery storage function through blackouts and emergencies, and you won't have to depend on the power grid for your safety and comfort.
- Smaller power bills: Sourcing some or all of your own electricity will cut power costs long-term.
What Solar Incentives Are Available to Victoria Homeowners?
Governments and power companies often reward homeowners for embracing 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: 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 Victoria
The cost and efficacy of solar panels often rely on the solar company that installed them. Consider each of these elements in your business 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. Solar providers can also earn certifications from standards organizations and trade groups. 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 Victoria
Your solar modules' model will impact how much electricity you can produce. Monocrystalline panels cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
If you want to charge an electric car or use your solar power in inclement weather, you can pay extra for add-ons. By choosing the right components, you can make your system more productive and user-friendly. Not every solar company provides these extras, so look for a company that sells them if it's essential for you.
If you're a resident of Victoria and are considering getting a five-kilowatt solar energy system, you could plan to spend about $16,650 for parts and installation. Find more information on specific component and panel costs in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Victoria
There are numerous ways to pay for a new solar system, and the right one will reduce your expenses. A few of the most common options include leases, power purchase agreements (PPAs), loans, and cash payments. Though it involves 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 second most effective option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for money-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) permits you to pay a monthly rate determined by the energy you use, similar to an electric bill. We generally don’t recommend these two choices because you won't own the system and are disqualified from using solar incentives. Ask each company you're vetting about the payment plans it offers. A team member 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 Victoria.
You are eligible for a 26% federal tax credit for new solar energy devices until the year 2032. Municipal and state governments and utility companies might also offer discounts, rebates, and specialized financing options 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 Victoria
How much energy and money could I save per year by switching to solar?
Is solar energy common in Victoria?
Should I anticipate a property value increase after installing solar panels?
What if I live in a rainy or dark
How many years does a standard solar system last?
What maintenance do my solar panels need, and how frequently do they need it?
What are some "red flags" to watch for as I research companies?
- Pressuring you into signing a contract
- Not being straightforward about references, warranties, cost and credentials and training
- Limited or no customization
- Not thoroughly inspecting your site
- Limited customer feedback
How many estimates should I get before making a final solar company decision?
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