Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Better energy independence: Adding a battery storage system lets you have trustworthy energy during storms and grid outages.
- Reduced carbon footprint: Adopting solar is a surefire way to decrease your carbon footprint and home fossil fuel dependency.
- Lower energy bills: Generating some or all of your own power will cut power costs long-term. Plus, some states offer net metering programs that enable you to sell your extra energy back to the grid, generating extra credits toward your energy bill.
What Solar Incentives Are Available to Eagle Mountain Homeowners?
Governments and utility companies often reward homeowners for adopting solar. Here are some of the rebates, tax credits or other programs you could qualify for.
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 Eagle Mountain
Choosing a company is the first step toward a well-oiled and valuable solar energy system. Consider all of these elements in your contractor search.
Licensing and Training
If a solar energy system in Utah doesn't use distributed generation technology, there are no licensure requirements. For other jobs, solar contractors must hold license S202, a specialty certification from the Utah Division of Occupational and Professional Licensing. The license requires a 25-hour course to obtain. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most credible trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Eagle Mountain
Your solar modules' type will influence how much electricity you can generate. Monocrystalline panels are among the highest quality and 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 need to charge an electric vehicle (EV) or use your solar power in inclement weather, you can pay extra for accessories. By choosing the right components, you can make your panel array more productive and convenient to use. Not all solar contractors provide these additional features, so look for a contractor that sells them if it's crucial for you.
Generally speaking, it costs about $16,450 for a five-kilowatt solar array in Eagle Mountain. This table lists more specific pricing information for different solar panel types and system components in your area.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,276 |
| Solar Polycrystalline | $996 |
| Thin-Film | $582 |
| Solar Battery | $817 |
| Solar Home EV Charger | $3,063 |
Financing Solar Energy in Eagle Mountain
Solar installers offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), solar loans, cash payments and solar leases. Most solar experts recommend paying cash or using a solar loan. Cash payments demand a large up-front sum, but they save you from 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 car or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases allow you to rent your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, similar 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. Look for providers that offer several payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Eagle Mountain.
The IRS allows you to claim a 26% federal solar tax credit on total system costs, so long as you purchase it before 2032. Municipal authorities and utilities might also offer their own financing programs, incentives, and rebates 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 Eagle Mountain
How much energy and money could I save per year by switching to solar?
How common is solar energy in Eagle Mountain?
Should I expect a property value increase after adopting solar power?
How long does the solar panel installation process last?
What care do my solar panels need, and how often do they need it?
What's the average solar system size in Eagle Mountain?
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
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