Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Better energy independence: Solar energy can keep your home powered through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with an optional battery storage system.
- Lowered energy bills: With a solar array, you produce power without paying the tacked-on costs of grid-tied power. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
What Solar Incentives Are Available to Spanish Fork Homeowners?
Governments and utilities often reward homeowners for switching to solar. Here are some of the tax credits, rebates, 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 Spanish Fork
The more thorough your company investigation is, the better your photovoltaic system will ultimately work. Make your choice based on the following key factors.
Licensing and Training
If a solar energy system in Utah doesn't use distributed generation technology, it's exempt from contractor licensing requirements. For other jobs, solar contractors must hold license S202, a specialty classification from the Utah Division of Occupational and Professional Licensing. The license requires a 25-hour course to obtain. You should also visit a company's website to learn about its private accreditations. Two of the most respected are the Solar Heating Installer and PV Installation Professional 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 Spanish Fork
The kind of solar panels you choose determines how much power you can generate. Monocrystalline panels and high-quality and 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 meant for large home installations, but they're excellent for small projects like sheds and RVs.
You can also add electric vehicle (EV) chargers and battery backup systems. These will increase your total installation cost, but they can improve your solar system's efficiency. Not all solar contractors provide these additional features, so look for a contractor that sells them if it's essential for you.
You can plan to spend about $16,450 on average for a five-kilowatt solar energy system in Spanish Fork. Check the table in this section to get an idea of what amount Spanish Fork solar companies might quote for your specific solar system's price.
| 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 Spanish Fork
Choosing the correct financing plan will influence your overall solar system cost and expected savings. Common payment options include leases, loans, power purchase agreements, 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 or home loan, 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, as with an electric bill. We generally don’t recommend these two choices because you won't own the panels and cannot use solar incentives. Ask each business you're evaluating about the payment plans it offers. A representative can help you determine the optimal option for your budget.
The table below lists the average payback periods for different capacities of solar systems in Spanish Fork.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, local governments and utilities may have their own rebates and financing plans that could reduce your total cost even more.
| 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 Spanish Fork
How much money could I save by going solar in Spanish Fork?
How widespread is solar energy in Spanish Fork?
Will a solar PV system improve my Spanish Fork home value?
Is solar panel installation a fast job?
What care do my solar panels need, and how frequently do they need it?
How long does it take to pay back a solar loan in Spanish Fork?
How can I boost my solar panels' 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
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.
