Benefits of Solar Energy
Solar energy provides multiple benefits. Here are some highlights.
- Lowered energy bills: With a solar array, you generate power without paying the tacked-on costs of grid-tied power. Going off-grid can eliminate your bills completely. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Better energy independence: Solar panel systems with energy storage systems operate through blackouts and emergencies, and you won't have to rely on the electrical grid for your safety and comfort.
- Reduced carbon footprint: Adopting solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Bellingham Homeowners?
Governments and utilities often incentivize homeowners for embracing solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
Incentive Type: Feed-in Tariff
Website: energy.wsu.eduIncentive Amount:
FY 2021: $0.02/kWh - $0.10/kWh
Incentive Type: Sales Tax Incentive
Website: dor.wa.govIncentive Amount:
100% exemption for sales of forest derived biomass used as fuel;
100% exemption for solar photovoltaic systems 10 kilowatts or less, and solar thermal systems;
75% exemption for other qualified systems
Incentive Type: Green Building Incentive
Website: commerce.wa.govIncentive 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 Bellingham
The purchase price and efficiency of solar panels often rely on the solar company that installed them. Consider each of these elements in your business search.
Licensing and Training
Solar companies in Washington need to hold an electrical contractors' license from the Department of Labor and Industries. In certain situations, the department may also conduct permit inspections to verify compliance and the viability and integrity of a contractor's job. You should also visit a company's website to learn about its private certifications. Two of the most recognized are the PV Installation Professional and Solar Heating Installer 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 Bellingham
Your solar modules' style will impact how much energy you can produce. 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 are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can enhance your solar system's performance. Not all solar companies provide these add-ons, so look for a company that sells them if it's a priority for you.
You can plan to spend about $17,950 on average for a five-kilowatt solar energy system in Bellingham. Check the table in this section to get an idea of what amount Bellingham solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,101 |
| Solar Polycrystalline | $859 |
| Thin-Film | $502 |
| Solar Battery | $704 |
| Solar Home EV Charger | $2,642 |
Financing Solar Energy in Bellingham
Choosing the optimal financing plan will influence your overall solar system cost and expected savings. Common payment options include power purchase agreements, leases, loans, 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 runner-up option. As with a home or auto 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 allow you to pay a monthly rate to rent your panels, while a power purchase agreement lets you pay a variable rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. We suggest working with an installer that offers multiple financing options. Speak with each agent about what's available, and obtain more than one estimate for the best odds of keeping within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Bellingham.
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. Local governments and utilities might also offer their own incentives, financing programs, and rebates that could save you more money.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.5 years |
| 2 kW | 5.0 years |
| 5 kW | 12.4 years |
| 10 kW | 24.9 years |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Bellingham
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Bellingham?
Will solar energy systems boost my Bellingham home worth?
How long will a typical solar system last?
What size should my new Bellingham solar system be?
How long does it take to pay back a solar loan in Bellingham?
What is "net metering," and how does it work?
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 receive 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 reviewsteam@thisoldhousereviews.com.
