Benefits of Solar Energy
Solar energy offers multiple perks. Here are some highlights.
- Lower utility costs: Generating some or all of your own power will save you money on your electric bills long-term. Plus, some states offer net metering programs that allow you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Reduced carbon footprint: Adopting solar is a surefire way to reduce your carbon footprint and home fossil fuel dependency.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems function through blackouts and emergencies, and you won't have to depend on the electrical grid for your safety and comfort.
What Solar Incentives Are Available to Bountiful Homeowners?
Utah's public agencies and power companies offer a range of solar incentives to help minimize your solar system costs. Here's a breakdown of relevant solar programs where you live.
Incentive Type: Corporate Tax Credit
Website: energy.utah.govIncentive Amount:
Commercial wind, geothermal electric, and biomass systems 660 kW or greater, and solar PV systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years
Other commercial technologies and commercial wind, geothermal electric, solar PV, and biomass systems smaller than 600 kW: 10% of installed cost
Photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost
Incentive Type: Personal Tax Credit
Website: energy.utah.govIncentive Amount:
Residential: 25%
Commercial wind, geothermal electric, and biomass systems 660 kW or greater 0.35¢/kWh ($0.0035/kWh) for 4 years
Other commercial technologies and commercial wind, geothermal electric, and biomass systems smaller than 660 kW: 10% of installed cost
Solar photovoltaic systems 2 MW or greater: 0.35¢/kWh ($0.0035/kWh) for 4 years
Solar photovoltaic systems smaller than 660 kW: 10% of installed costSolar photovoltaic systems between 660 kW and 2 MW: May choose either 0.35¢/kWh ($0.0035/kWh) for 4 years or 10% of installed cost
Incentive Type: Rebate Program
Website: wattsmarthomes.comIncentive Amount:
Ductless Heat Pumps: Up to $1,700
Electronically Commutated Motors: Up to $100
Evaporative Coolers: Up to $200
Heat Pumps: up to $750
Ground Source Heat Pumps: up to $2,500
Rooftop Heat Tape Timer: up to $100
Room Air Conditioners: Up to $20
Smart Thermostats: $50
Whole House Ventilation Fans: up to $125
Manufactured Homes Duct Sealing: Free service available
Manufactured Homes Ductless Heat Pumps: Up to $1,300
Lighting: Special pricing at certain retailers
Heat Pump Water Heaters: up to $550
Insulation: Up to $0.10/sq.ft
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 Bountiful
Choosing a company is the first step toward a well-oiled and valuable solar energy system. Here are some key items to remember while shopping for a solar provider.
Licensing and Training
If a solar energy system in Utah won't hook up to a utility, the state exempts its installation from licensing requirements. For other jobs, solar contractors must hold license S202, a specialty credential from the Utah Division of Occupational and Professional Licensing. The license requires a 25-hour course to obtain. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most trusted trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Bountiful
Your solar modules' type will affect how much energy you can generate. Monocrystalline panels are among the highest quality and 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 are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can boost your solar system's efficiency. Not all solar contractors provide these optional components, so look for a company that sells them if it's crucial for you.
If you're a resident of Bountiful and are looking into a five-kilowatt solar energy system, you could expect to pay about $16,450 for parts and installation. See more information on specific component and solar panel costs in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,112 |
| Solar Polycrystalline | $867 |
| Thin-Film | $507 |
| Solar Battery | $712 |
| Solar Home EV Charger | $2,669 |
Financing Solar Energy in Bountiful
Choosing the correct financing plan will impact your overall solar system cost and expected savings. Common payment options include power purchase agreements, loans, leases, 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 solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like a home or car loan, you'll pay a set monthly rate with potentially $0 down. Solar leases let you rent your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, much like an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Ask each provider you're vetting about the payment plans it offers. A representative can help you determine the best option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Bountiful.
The IRS allows you to claim a 26% federal solar 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, rebates, and incentives that could save you more money.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.2 years |
| 2 kW | 4.4 years |
| 5 kW | 11.0 years |
| 10 kW | 21.9 years |
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Frequently Asked Questions About Solar in Bountiful
How much money could I save by going solar in Bountiful?
Is solar energy readily available in Bountiful?
Will a solar PV system improve my Bountiful home value?
Is solar panel installation a quick job?
What upkeep do my solar panels need, and how often do they need it?
What's the average solar system size in Bountiful?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from the government, specialty lenders, installer and local banks. You'll need to pass a credit check to qualify for most of them. While the upfront costs are higher, and you'll be responsible for maintenance, you'll also have full ownership rights and can apply for many more incentives.
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