Benefits of Solar Energy
Solar energy offers multiple benefits. Let's look at a few of them.
- Better energy independence: Photovoltaic solar panel systems with battery backups and storage systems operate through power outages and emergencies, and you won't have to rely on your power company for your safety and comfort.
- Reduced carbon footprint: The sun is one of the universe's most abundant clean energy sources, meaning you can reduce or eliminate your home's dependence on non-renewable sources.
- Smaller power bills: Sourcing some or all of your own power will spend less on electricity long-term. Plus, some states provide net metering programs that make it possible for you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
What Solar Incentives Are Available to Brookfield Homeowners?
Governments and power companies often reward homeowners for adopting solar. Here are some of the rebates, tax credits or other programs you could qualify for.
Incentive Type: Sales Tax Incentive
Website: revenue.wi.govIncentive Amount:
100% exemption from sales and use tax for eligible purchases
Incentive Type: Rebate Program
Website: focusonenergy.comIncentive Amount:
Solar PV: Residential - $200 per kW
Business - 0-5 kW: $200 per kW
5-10 kW: $1000 + $150 per kW over 5
10-100 kW: $1750 + $125 per kW over 10
100-300 kW: $13000 + $100 per kW over 100
300-500 kW: $33000 + $85 per kW over 300
Incentive Type: Property Tax Incentive
Incentive Amount:
100% of the value added by an eligible renewable energy system
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 Brookfield
Choosing a company is the first step toward a well-oiled and valuable solar system. Make your choice based on the following key factors.
Licensing and Training
For solar thermal installations, Wisconsin requires a licensed HVAC contractor or plumber to serve the crew if the work involves heating equipment or potable water. There are fewer restrictions for solar photovoltaic systems, but either your city government or the Wisconsin Division of Safety and Buildings may have to review building plans before you begin. Solar companies can also pursue certifications from trade groups and standards organizations. The most recognized 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 Brookfield
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.
If you want to charge an electric vehicle (EV) or use your solar power in inclement weather, you can pay extra for accessories. By choosing the right components, you can make your system more efficient and convenient to use. Not all solar companies offer these extras, so look for a company that installs them if it's a priority for you.
If you're a resident of Brookfield and want a five-kilowatt solar energy system, you could plan to spend about $19,400 for parts and installation. Find more information on specific component and solar panel costs in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,149 |
Solar Polycrystalline | $896 |
Thin-Film | $524 |
Solar Battery | $735 |
Solar Home EV Charger | $2,757 |
Financing Solar Energy in Brookfield
There are numerous ways to pay for a new solar system, and the right one will help you decrease overhead. A few of the most common options include leases, loans, power purchase agreements (PPAs), and cash payments. 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 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 installments while still benefiting from energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, similar 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. Look for contractors that offer two or more payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Brookfield.
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 rebates and financing plans that could reduce your total cost even more.
Solar System Capacity | Estimated Payback period |
---|---|
1 kW | 2.0 years |
2 kW | 4.0 years |
5 kW | 10.0 years |
10 kW | 20.0 years |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Brookfield
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Brookfield?
Will a solar PV system boost my Brookfield home worth?
What if I live in a gloomy or rainy
What can I do to assess my home's solar potential?
How do I care for my new solar system?
How are traditional solar loans and PPAs different?
You might look into 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 financing options above.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.