Benefits of Solar Energy
Solar energy offers numerous advantages that will enhance your home for years to come.
- Lowered energy bills: You can avoid the expensive cost of grid-tied power by producing some electricity right where you use it.
- Reduced carbon footprint: Embracing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Better energy independence: Photovoltaic systems with battery storage work through blackouts and emergencies, and you won't have to rely on the power grid for your safety and well-being.
What Solar Incentives Are Available to Vancouver Homeowners?
Governments and power companies often reward homeowners for switching to solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
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 Vancouver
The more thorough your company research is, the better your solar panels will ultimately work. Consider each of these factors in your contractor search.
Licensing and Training
Solar energy companies in Washington are required to hold an electrical contractors' license from the Department of Labor and Industries. In some situations, the department may also conduct permit inspections to confirm compliance and the integrity and viability of a contractor's job. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar sector's most trusted trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Vancouver
The kind of solar panels you purchase determines how much electricity 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 meant for large home installations, but they're excellent for small projects like sheds and RVs.
If you want to charge an electric car or use your solar power in inclement weather, you can pay extra for add-ons. By selecting the right components, you can make your system more effective and user-friendly. Not every solar contractor includes these extras, so look for a company that sells them if it's essential for you.
Generally speaking, it will cost about $17,950 for a five-kilowatt solar array in Vancouver. This table shows more specific pricing information for different solar panel types and system components in your area.
|Solar Panel Cost
|Solar Home EV Charger
Financing Solar Energy in Vancouver
Choosing the optimal financing solution will influence your overall solar system cost and possible savings. Common payment options include cash payments, leases, loans, and power purchase agreements. 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 next best option. As with a car or home 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 fee to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally advise against 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 provider you're considering about the payment options it offers. A consultant can help you determine the most suitable option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Vancouver.
A 26% federal tax credit applies to recently-purchased solar equipment purchased through 2032. Additional incentives may be available through city and state governments, usually in the form of rebates and special financing programs.
|Solar System Capacity
|Estimated Payback period
Ready to Get a Quote on Your Solar Project?
Frequently Asked Questions About Solar in Vancouver
How much money could I save by going solar in Vancouver?
How common is solar energy in Vancouver?
Will solar energy systems increase my Vancouver home worth?
How can I determine my site's solar potential?
How do I care for my new solar system?
How long does it take to pay back a solar loan in Vancouver?
How can I boost my solar panels' 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
To share feedback or ask a question about this article, send a note to our Reviews Team at firstname.lastname@example.org.