Benefits of Solar Energy
Solar energy offers numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: Solar is one of the universe's most abundant clean energy sources, meaning you can lower or beat your home's dependence on fossil fuels.
- Better energy independence: Solar systems with battery storage operate through blackouts and emergencies, and you won't have to depend on the grid for your safety and well-being.
- Lowered energy bills: With solar panels, you produce power without paying the tacked-on costs of grid-tied power. Going off-grid can eliminate your bills completely.
What Solar Incentives Are Available to Suffolk Homeowners?
Governments and utility companies often incentivize homeowners for switching to solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
Incentive Type: Personal Tax Deduction
20% of the sales tax paid by an individual
Incentive Type: Property Tax IncentiveWebsite: law.lis.virginia.gov
Depends on the local governing body
Incentive Type: Property Tax IncentiveWebsite: dmme.virginia.gov
Varies (local option)
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 Suffolk
Choosing a company is the first step toward a well-oiled and valuable solar energy system. Consider all of these elements in your company search.
Licensing and Training
Since 2012, Virginia's Department of Professional and Occupational Regulation has issued Alternative Energy Systems (AES) licenses to contractors who install solar PV systems. Even if a contractor has an AES license, they may still need to subcontract plumbing, electrical or HVAC work. Solar installers can also obtain certificates from standards organizations and trade groups. The most respected 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 Suffolk
Your solar panels' model will influence how much energy you can produce. Monocrystalline panels 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.
Additional components, such as electric vehicle (EV) chargers and battery storage, will add to your overall costs. However, they might make your solar system more efficient and convenient to use. Not all solar contractors provide these additional features, so look for a contractor that installs them if it's crucial for you.
Most Suffolk homeowners select solar systems rated for five kilowatts (kW) of electrical capacity. These systems run about $17,950 to install, considering both parts and installation. You can find more specific cost information in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Suffolk
Choosing the correct financing option will impact your overall solar system cost and possible savings. Common payment options include power purchase agreements, loans, leases, and cash payments. Though it involves a large up-front payment, cash is the most cost-effective 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 valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases let you rent your panels for a set 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. We advise working with an installer that offers multiple financing options. Speak with each representative about what's available, and get more than one estimate for the best odds of staying within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Suffolk.
You are eligible for a 26% federal tax credit for new solar power systems until the year 2032. City and state officials 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 Suffolk
How much money could I save by going solar in Suffolk?
How common is solar energy in Suffolk?
Should I expect a property value increase after going solar?
What can I do to estimate my home's solar viability?
How long does the photovoltaic installation process take?
How do I care for my new solar system?
How can I enhance my solar array'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
How does "net metering" work, and do I need to participate?
Some states or utilities mandate you to join net metering when installing your solar system, while others give you a choice. Either way, once you join, you'll earn a check or bill credit for your excess generation at a retail or wholesale rate.
To share feedback or ask a question about this article, send a note to our Reviews Team at firstname.lastname@example.org.