Benefits of Solar Energy
Solar energy has several advantages that will enhance your home for years to come.
- Better energy independence: Adding a solar battery storage system lets you have dependable energy during storms and grid outages.
- Lower utility costs: Sourcing some or all of your own energy will spend less on electricity long-term. Plus, some states offer net metering programs that allow you to sell your surplus energy back to the grid, generating extra credits toward your energy bill.
- Reduced carbon footprint: Adopting solar is a surefire way to lower your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Renton Homeowners?
Washington homeowners who upgrade to solar could qualify for rebates, special financing, reimbursements and tax credits. Here are just a few of the region's incentive programs.
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 Renton
The cost and efficacy of solar panels often rely on which company installed them. Here are some key items to bear in mind while searching for a solar specialist.
Licensing and Training
Solar energy contractors in Washington must hold an electrical contractors' license from the Department of Labor and Industries. In certain situations, the department may also conduct permit inspections to confirm compliance and the integrity and viability of a contractor's job. Solar installers can also earn accreditations 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 Renton
The type of solar panels you select determines how much electricity you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't recommended for large residential installations, but they are ideal for small projects like converting RVs and sheds.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can increase your solar system's efficiency. Not every solar provider includes these extras, so look for a company that sells them if it's essential for you.
You can plan to spend about $17,950 on average for a five-kilowatt solar energy system in Renton. Check the table in this section to get an idea of what amount Renton solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,255 |
Solar Polycrystalline | $979 |
Thin-Film | $572 |
Solar Battery | $803 |
Solar Home EV Charger | $3,012 |
Financing Solar Energy in Renton
Choosing the correct financing solution will influence your overall solar system cost and potential savings. Common payment options include power purchase agreements, cash payments, leases, and loans. We advise making a cash payment or using a solar loan for the best 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 have full ownership of your system and can apply for solar panel incentives to minimize 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 spend more in total due to accruing interest. Solar leases allow you to pay a monthly fee 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 specific circumstances. Ask each company you're vetting about the financing options it offers. A staff member 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 Renton.
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 financing plans and rebates that could reduce your total cost even more.
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 |
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Frequently Asked Questions About Solar in Renton
How much energy and money could I save per year by switching to solar?
Is solar energy easily accessible in Renton?
Should I anticipate a property value increase after installing solar panels?
How can I determine my site's solar potential?
Is solar panel installation a fast job?
How long does it take to pay back a solar loan in Renton?
What are some "red flags" to watch for as I research companies?
- Aggressive sales pitch
- Not being straightforward about references, warranties, cost and training and credentials
- Limited or no customization
- Not thoroughly inspecting your site
- No business filing with your local secretary of state
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