Tag Archives: solar system purchase

What Will a 10,000 Watt (10 kW) Solar System Cost in Your State in 2017?

10kW solar systems EnergySage

10kW solar systems are among the most popular solar energy system sizes in the country, producing enough electricity to power a home with slightly above-average electricity consumption. How much does a 10kW solar system cost? How much electricity will a 10kW solar system produce? How do you know you’re getting the best deal on a system? These are some of the key questions we will answer in this article.

How Much Does a 10kW Solar System Cost?

As of January 2017, the average cost of solar in the U.S. is $3.26 per watt ($32,600 for a 10 kilowatt system). That means that the total cost for a 10kW solar system would be $22,820 after the 30% Federal ITC discount (not factoring in any additional state rebates or incentives).

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Questions to Ask Your Solar Loan Company

questions to ask your solar financing company EnergySage

Going solar is like all big home improvement project – the more questions you ask beforehand, the better prepared you’ll be on installation day. And while most homeowners understand the importance of vetting potential solar installers, they may not realize it’s equally as important to fully vet their loan provider too. There are many financiers throughout the country that offer solar loans with varying terms and conditions, but how do you determine which is best for you? Here’s a quick checklist of the top questions to ask your solar financing company before you sign an agreement with them:

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How to Claim New York’s Solar Tax Credit Under Lease or PPA

new york solar tax credit graphic energysage

With endless reasons to go solar in New York, many homeowners are enjoying the luxury that is the New York State Solar Tax Credit and you should too. In this article, we break down everything you need to know about tax incentives in NY.

New York State’s Solar Equipment Tax Credit is one of a suite of generous tax incentives and rebates for solar panels available in New York State. It is an incredibly generous and flexible incentive, saving you up to $5,000, depending on how much you spend on solar. How and when can you claim the credit if you go solar under a solar lease or power purchase agreement (PPA)? Learn more in this article about solar energy in New York and the tax incentives you can take advantage of.

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The solar revolution is now: Solar energy beating grid electricity on cost

solar fights electric

Still think solar panels are an expensive way to generate electricity? Think again. Solar energy system costs have fallen significantly in recent years, becoming increasingly competitive with power from electric utilities across the US. And as the global solar industry grows, prices look set to fall even further.

According to Deutsche Bank’s 2015 Solar Outlook report, solar energy system costs are likely to drop 40% in the next 4-5 years, in keeping with the steep downwards trend of the past decade. Given that utility electricity rates are only going to continue to rise, this means solar is set to become an increasingly attractive financial option for homes and businesses around the US – and the world.

Another report titled “Renewable Energy Generation Costs in 2014” released in January by the International Renewable Energy Association (IRENA) backs up Deutsche Bank’s conclusions. Like the Deutsche Bank report, IRENA also concludes that falling costs have made solar financially competitive with grid electricity in many parts of the world – including much of the US. The report also shows that there have been dramatic declines in the cost of solar energy systems in the past few years (including a 3/4 drop in the cost of solar panels) – and says that there is still substantial room for further cost reductions as the solar industry expands. Continue reading

Solar Cost Terminology: Cost Per Watt, $/W and LCOE

What should you look at to determine if you’re getting a good deal on solar? There are lots of things to pay attention to when deciding on a solar energy system; but two of the most useful metrics for evaluating the cost and value of a solar power offer are price per watt, measured in dollars per watt of energy ($/W), and ‘levelized cost of energy’ (LCOE).

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FHA and Fannie Mae agree: A solar panel system adds value to your home (if you own the system)

FHA Fannie mae solar energysage

Looking for Fannie Mae solar panel loans? Check out our article on the Fannie Mae Homestyle Energy Program.

Solar loans and solar financing provided by Fannie Mae have drawn major attention from homeowners as one of the new premier ways to save big withs solar panels. And one question that EnergySage receives regularly from our customers is: “Will solar panels increase the value of my property?” It is clear that the answer is already a resounding ‘yes’, and the evidence only continues to mount. We have compiled a list of studies that highlight this point, and recently wrote about Lawrence Berkeley Laboratory’s recent study showing that solar panels increase home values significantly across the US. These studies mainly look at cases where the homeowner is also the owner of the solar panel system.

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How Much Does Solar Cost in Austin, Texas?

cost of solar austin txThe price of solar energy systems continues to drop across the country and perhaps nowhere as dramatically as Austin, Texas. According to the Solar Industry Mag, Austin is now a top 20 city for solar in the U.S.  While prices continue to decline across the country, generous incentives still exist for those who purchase a system today. One of the largest is the Solar Investment Tax Credit (ITC). The ITC offers those who install a residential solar system a 30 percent tax credit, and was recently extended by Congress. Additionally, states have their own set of incentives. Qualifying residents of Austin, Texas can apply the Austin Energy Rebate to the cost of installing a system, and then benefit from monthly saving with the Value of Solar Tariff.

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“Free solar panels”: Are they really free?

If you’ve been shopping around for a solar panel system, you’ve probably heard at least one company advertise ‘free solar panels’ – that they will install a solar system on your roof for free. But, much as with anything, remember that there is no such thing as a free lunch (or a free solar panel).

Free solar panels pure energies

                       Examples of companies advertising ‘free solar panels’

Decoding the sales pitch: The term ‘free solar panels’ is sometimes used to advertise solar lease or solar power purchase agreements (PPAs).

Under both types of arrangements, a company will put solar panels on your roof for no money up-front, but will charge you for the electricity that they produce.

Most offers will save you money but not all of them, so make sure you’ve thoroughly compared all your options. Also consider buying the solar panels or financing them with a zero-down solar loan.
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How Much Does a 6,000 Watt (6kW) Solar System Cost in 2017?

6kW solar system EnergySage

If you’ve been looking into going solar, you’ve probably at some point seen quotes for a 6kW solar system. 6kW solar systems are one of the most popular system sizes in the US because in most places they will produce about the right amount of electricity to meet an average household’s daily electrical needs.

Solar leases & PPAs have made going solar accessible for virtually anyone with a roof, but what if you’re thinking about purchasing a system? Since you’ll probably be spending your own money, you’ll want to be extra selective about the installer who does the job and the components that are used.

This article investigates these questions: 1) How much does a 6kW solar system cost, 2) how much electricity will a 6kW system produce, and 3) how do you know you’re getting the best deal? Continue reading

The NY Solar Tax Credit (Part 2): How to claim the credit if you own your system

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New York State’s Solar Equipment Tax Credit is worth up to $5,000 and can be claimed over the course of up to five years, making it one of the most generous and flexible in the country. Provided you meet the basic eligibility criteria, you may claim the credit regardless of whether you own your system or had it installed under a solar lease/power purchase agreement (PPA). How does the tax credit work if you own your solar system? Continue reading