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. Plus, many states offer net metering which can allow you to sell your unused energy back to help pay for your energy bill.
- Reduced carbon footprint: The sun is the universe's most abundant clean energy source, meaning you can reduce or eliminate your home's dependence on fossil fuels.
- Better energy independence: Solar panel systems can keep your home powered through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
What Solar Incentives Are Available to Vancouver Homeowners?
The state of Washington offers a variety of solar incentives to help reduce your solar system costs. Here is a breakdown of applicable solar programs where you live.
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: Loan Program
Website: clarkpublicutilities.comIncentive Amount:
$30,000
Incentive 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 Vancouver
Choosing a company is the first step toward a well-oiled and valuable solar energy system. Consider all of these elements in your company search.
Licensing and Training
Solar contractors in Washington must hold an electrical contractors' license from the Department of Labor and Industries. In some 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 certifications. Two of the most recognized are the Solar Heating Installer and PV Installation Professional certificates, awarded 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 Vancouver
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options and generally have the highest quality. Polycrystalline panels produce less power, but start at a more budget-friendly price point. 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 battery storage and electric vehicle (EV) chargers, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not all solar providers offer these extras, so look for a contractor that sells them if it's important for you.
If you're a resident of Vancouver and are looking into a five-kilowatt solar energy system, you could plan to spend about $17,950 for materials and labor. Find more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,216 |
Solar Polycrystalline | $949 |
Thin-Film | $555 |
Solar Battery | $779 |
Solar Home EV Charger | $2,919 |
Financing Solar Energy in Vancouver
There are various ways to pay for a solar energy system, and the right one will lower your costs. A few of the most common options include cash payments, leases, loans, and power purchase agreements (PPAs). 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 solar 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 |
---|---|
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 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
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