Benefits of Solar Energy
Solar energy offers multiple benefits. Let's look at a few of them.
- Better energy independence: Solar panel systems with battery backups and storage systems operate through blackouts and emergencies, and you won't have to rely on the power grid for your safety and comfort.
- Lowered energy bills: You can dodge the premium cost of grid-tied power by generating some electricity right where you use it. Plus, many states provide net metering which can allow you to sell your unused energy back to credit part of your bill.
- Reduced carbon footprint: Utilizing solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Oak Creek Homeowners?
Governments and power companies often incentivize homeowners for going 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 Oak Creek
Choosing a company is the first step toward an effective and valuable solar energy system. Consider all of these aspects in your contractor search.
Licensing and Training
For solar thermal installations, Wisconsin requires a licensed plumber or HVAC contractor to be a part of the team if the work involves heating equipment or potable water. There are fewer restrictions for solar PV systems, but either the Wisconsin Division of Safety and Buildings or your city government may have to review building plans before you begin. Solar installers can also earn accreditations from trade groups and standards organizations. The most respected ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Oak Creek
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'd like to charge an electric car or use your solar power in cloudy weather, you can pay extra for accessories. By selecting the right components, you can make your system more productive and convenient to use. Not every solar contractor offers these extras, so look for a contractor that installs them if it's essential for you.
If you're a resident of Oak Creek and are looking into a five-kilowatt solar energy system, you could expect to pay 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 | $1,187 |
| Solar Polycrystalline | $926 |
| Thin-Film | $541 |
| Solar Battery | $760 |
| Solar Home EV Charger | $2,848 |
Financing Solar Energy in Oak Creek
Solar companies offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are cash payments, solar leases, solar loans and power purchase agreements (PPAs). Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Similar to a car or home loan, you'll pay a set monthly rate with potentially $0 down. 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 advise against these options since you won't own your system and are disqualified from solar incentives, but they might be suitable in specific circumstances. We advise working with an installer that offers multiple financing options. Talk to each consultant about what's available, and get more than one estimate for the best odds of staying within your budget.
The table below lists the average payback periods for different capacities of solar systems in Oak Creek.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. City and state officials and utility companies might also offer rebates, discounts, and specialized financing options that could save you 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 |
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Frequently Asked Questions About Solar in Oak Creek
How much money could I save by going solar in Oak Creek?
Is solar energy widely available in Oak Creek?
Should I anticipate a boost in my property value after installing solar panels?
How can I check my home's solar suitability?
How do I care for my new solar system?
What's the average solar system size in Oak Creek?
What is "net metering," and how does it work?
Some states or energy providers oblige you to enroll in net metering when purchasing your solar system, while others give you a choice. Either way, once you participate, you'll get a check or bill credit for your excess generation at a retail or wholesale rate.
What's the difference between a PPA and a solar lease?
If you choose a lease, you'll make fixed payments each month.
With both leases and PPAs, you don't own your panels and lose eligibility for some incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
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