Benefits of Solar Energy
Solar energy has several advantages that will enhance your home for years to come.
- Reduced carbon footprint: Using clean solar power lowers your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems work through power outages and emergencies, and you won't have to depend on the grid for your safety and well-being.
- Lowered energy bills: With solar energy systems, you create 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 have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Richland Homeowners?
Governments and power companies often reward homeowners for switching to solar. Here are some of the rebates, tax credits 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 Richland
Choosing a company is the first step toward a well-oiled and cost-efficient solar energy system. Make your choice based on the following essential elements.
Licensing and Training
Solar energy contractors in Washington are required 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 integrity and viability of a contractor's job. You should also visit a company's website to learn about its private accreditations. Two of the most respected 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 Richland
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
Additional accessories, such as electric vehicle (EV) chargers and battery storage, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar providers provide these additional features, so look for a company that installs them if it's important for you.
A majority of Richland homeowners select solar systems rated for five kilowatts (kW) of electrical capacity. These systems cost about $17,950 to set up, considering both materials and labor. You can see more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,139 |
| Solar Polycrystalline | $888 |
| Thin-Film | $519 |
| Solar Battery | $729 |
| Solar Home EV Charger | $2,733 |
Financing Solar Energy in Richland
Choosing the right financing solution will influence your overall solar system cost and potential savings. Common payment options include leases, power purchase agreements, loans, 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 loan or mortgage, 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) lets you 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 solar system and are disqualified from using solar incentives. Ask each installer you're evaluating about the financing options it offers. A staff member can help you determine the optimal option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Richland.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments 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 Richland
How much money could I save by going solar in Richland?
How prevalent is solar energy in Richland?
Will solar panels boost my Richland home price?
Could I still use solar power if I live in a rainy, dark, or wooded area?
Is installing solar panels a quick job?
How do I care for my new solar system?
What is "net metering," and how does it work?
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