Benefits of Solar Energy
Solar energy offers multiple perks. Here are some highlights.
- Lowered energy bills: You can skip the premium cost of grid-tied power by producing some electricity right where you use it.
- Reduced carbon footprint: Using solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
- Better energy independence: Adding a battery backup lets you have reliable energy during grid outages and storms.
What Solar Incentives Are Available to Parkland Homeowners?
Washington homeowners who go solar could qualify for tax credits, rebates, reimbursements and special financing. Here are just a few of the local incentive programs.
Incentive Type: Feed-in TariffWebsite: energy.wsu.edu
FY 2021: $0.02/kWh - $0.10/kWh
Incentive Type: Sales Tax IncentiveWebsite: dor.wa.gov
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: 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 Parkland
Choosing a company is the first step toward a well-oiled and cost-efficient solar energy system. Here are some important factors to keep in mind while searching for a solar specialist.
Licensing and Training
Solar energy companies in Washington must hold an electrical contractors' license from the Department of Labor and Industries. In specific situations, the department may also conduct permit inspections to test compliance and the viability and integrity of a contractor's job. You should also visit a company's website to learn about its private credentials. Two of the most prestigious are the Solar Heating Installer and PV Installation Professional certificates, granted 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 Parkland
The style of solar panels you select decides how much power you can produce. Monocrystalline panels 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 the best for large residential installations, but they are excellent accessories for non-traditional roofs.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total project price, but they can maximize your solar system's performance. Not all solar providers offer these add-ons, so look for a contractor that sells them if it's important for you.
Most Parkland homeowners choose solar systems designed for five kilowatts (kW) of electrical capacity. These systems cost about $17,950 to install, considering both parts and installation. You can see more specific cost information in the table.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Parkland
There are a plethora of ways to pay for a solar energy system, and the right one will help you decrease overhead. A few of the most common options include leases, cash payments, loans, and power purchase agreements (PPAs). We advise making a cash payment or using a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar incentives to reduce your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in monthly installments while still benefiting from energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases allow you to rent your panels for a fixed monthly rate, while PPAs let you pay just for the energy you use, akin 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. We advise working with a provider that offers multiple financing options. Speak with each salesperson about what's available, and obtain more than one estimate for the best odds of keeping within your budget.
The table below lists the average payback periods for different capacities of solar systems in Parkland.
A 26% federal tax credit applies to recently-purchased solar equipment purchased through 2032. Additional incentives may be available through local governments, usually in the form of rebates and special financing programs.
|Solar System Capacity
|Estimated Payback period
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Frequently Asked Questions About Solar in Parkland
How much energy and money could I save per year by switching to solar?
Is solar energy common in Parkland?
Should I expect a property value increase after switching to solar energy?
Could I still use solar power if I live in a wooded, rainy, or dark area?
How can I evaluate my property's solar potential?
How long does the solar panel installation process take?
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.
How are traditional solar loans and PPAs different?
You might think about a PPA if you don’t want to be responsible for maintenance and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any cost-saving solar incentives. Many solar experts don’t recommend PPAs. Our guide covers other payment options above.
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