Solar Financing Options For Houston Residents
Solar panel systems in Houston are typically paid for by one of the following options. Each payment method has pros and cons for homeowners to consider.
- Cash: Interest-free, but must pay upfront
- Solar loans: Can pay over time, but interest can accrue
- Solar lease: Flat monthly payments, but ineligible to claim some incentives and rebates
- Power Purchase Agreement: Little-to-no homeowner maintenance, but it takes longer to see a return on investment
Cash and solar loans are the most beneficial for homeowners who want a quick solar investment return. Solar leases and PPAs are best for residents who can’t pay cash and may not qualify for a large loan.
Advertiser Disclosure: CNET’s corporate partner, SaveOnEnergy, can help you find the right energy fit for your home. The SaveOnEnergy marketplace helps you search, compare, sign up and save on the right energy fit for your home — all for free. If you’re interested in solar, answer a few questions to get an exact price quote from our solar advisors.
Who Is The Largest Solar Panel Manufacturer In The Us
This is a tricky question for reasons that hearken back to mention of where panels are assembled vs. where their components get made.
In addition, we can use several metrics to quantify a companys size, and depending on which one you choose to go with, youll get different answers.
Based on annual sales, First Solar, an Arizona company weve already discussed, boasts yearly sales of over $250 million. Thats far and away the highest sales. Unsurprisingly, First Solar also leads in the number of gigawatts sold, which sits at 1.9GW yearly.
If youre just looking for name recognition and the neat-o factor, the answer would have to be Tesla. The company continues revolutionizing most things it gets involved with, and its solar roof looks great and seems to produce a lot of happy customers and solar power.
Who Makes Solar Panels
Solar manufacturers make solar panels. Most of these companies are situated in China, with only a portion of them working in the US. Luckily, the number of US-based solar manufacturers keeps growing year after year, especially thanks to incentives established by the US government. In recent years, many foreign companies also increased their presence in the US solar market, predominantly by opening factories here.
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Can I Get The Federal Tax Credit
The federal tax credit for solar panels is still around. For any solar panels installed in 2022, the federal government will give you 30% of the cost back on your income taxes. As part of the Inflation Reduction Act, passed in 2022, the credit was bumped up to 30% and will stay at that level through 2031.
Besides the federal tax credit, there might be state and local incentives you can take advantage of.
Best Us Solar Energy Companies
Solar Energy has gone from a fringe interest of the environmentally aware, to a viable option in new home construction and renovation. More businesses and government entities are also turning towards solar to power self-contained systems to promote energy reserves on site. Here are the best 15 US solar energy companies today. Some of them are very new, and some have been working with solar technology and construction for well over 30 years.
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Q2 How To Know If Your House Is Suitable For A Solar Energy System
This is a common question asked by people who are considering getting a solar energy system. What you can do is contact the solar company and provide the necessary information to get a quote or talk with a representative that can examine your space and provide you with details and a custom plan.
Luckily, the solar companies on our list are using technology to estimate the conditions and come up with a suitable solution. You can also look for online tools designed to determine the amount of sunlight you get per year and how much space you have for a solar energy system. The ideal conditions for a solar system are a large roof with no obstructions, a 30-degree pitch, and one that is in good condition.
Convert Electricity With Solar Inverters
Solar panels produce direct current power while we use alternating current electricity for our homes and businesses. We must convert this DC electricity to AC power with solar inverters.Tip: Do research whether your property is best suited for a string, micro, or string with power optimizer inverter to go with your solar panel installation.
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The Difference Between An American Company And American Made
When it comes to where a company is based, the locations of any satellite offices or facilities are irrelevant. The country in which the company is incorporated is considered that companys home country. An American company, then, is one incorporated in the United States.
When it comes to whether something is American-made, though, it gets a little hazier, and we have to decode labels to know exactly the provenance of the product in question.
Solar Batteries For Energy Storage
A solar battery allows homeowners to store excess power for use at night or during low sunlight days. The best solar batteries can provide backup power during a blackout. You can also use solar batteries when electricity rates are high, increasing your energy savings.
Garrett Nilsen, deputy director of the U.S. Department of Energys Solar Energy Technologies Office, says affordable solar batteries are one of the solar industrys most exciting developments. Battery storage lets homeowners leverage excess energy that has already been generated and stored, ensuring you get the most out of your solar energy system, he says.
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What To Expect From Your Solar Installation Inspection
Each solar installation requires a home inspection, which helps the solar installer know what rigging system is required and what kind of panels, inverters, energy storage systems, and other vital components you will need. Overall, the purpose of the solar inspection is to ensure all the details are right for your solar panels to work for the next 25 to 30 years.
An extra step you can take to streamline the solar inspection process is reaching out to your local government to vet an installer before having them come to your home. According to Tyler Adams, Astrawatt Solars director of marketing, Your county government can tell you if a solar installer is licensed and is in good standing with the local government. He also recommends contacting your local utility company about going solar. Many local utility companies will provide homeowners with a list of questions to ask a solar installer, Adams says.Any good solar installer will be able to answer those questions and can use those as a guide for what to expect as you convert your home to using solar energy.
Solar installation inspections tend to follow these steps:
How To Finance With Your Solar Panel Company
Regardless of which solar company you settle on, remember that financing options are available for your home solar system. We recommend owning versus renting your solar panels so that you can get the Residential Clean Energy Credit, formerly known as the Investment Tax Credit. The solar tax credit offers buyers a 30% deduction on solar systems purchased through 2032 including systems bought since the beginning of 2022.
However, if owning is not your preference, you can lease solar panels or have a power purchase agreement . Both of these options, while slightly different, will cost less upfront and require less maintenance from the homeowner.
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Other Companies We Reviewed
We’ve reviewed other solar companies that don’t appear in our best list above, including some that scored higher overall than Tesla’s solar panels. Given the nature of the solar panel industry, which shifts from state to state and roof to roof, some of these other companies might be better suited to your situation.
How Much Does It Cost To Go Solar In Ct
On average, homeowners spend between $11,432 and $15,468 for their solar installation, which often gets paid off in about eight years. However, the average homeowner also saves $15,000 over twenty years once switching to solar, so the investment essentially pays for itself over time. Additionally, homeowners are granted a 26% federal tax credit if a solar energy system is installed anytime in 2022, or a 22% federal tax credit for systems installed in 2023.
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Quality And Installation Techniques
As is the case with every product we purchase, it is essential to look for a company that supplies the highest efficiency solar panels. Additionally, the panels should not take up a lot of space, and they need to be durable and long-lasting.
When it comes to your roof structure and your preferences, a good company always offers a variety of options for their customers. Some solar companies, such as the ones on our list, even provide customizable plans for your solar systems. The design should also be sleek, and there should not be any visible wires.
Top 10 Largest Solar Companies In The Us
by David Nurse | Dec 18, 2018 |
Energy Acuity is the leading provider of power generation and power delivery market intelligence. Below are the Top 10 Largest Solar Companies by Developed or Owned Pre-Construction, Under Construction, and Operating Solar Capacity . This list has been exported from the Renewables Platform inside of the Energy Acuity Product Suite.
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Incentives Rebates And Tax Credits
In California, its likely youll be eligible for solar rebates and federal tax credits after making the switch to solar energy. Will your solar installation company help you make the necessary arrangements? Be sure to ask your provider about whats available in your area. Even better, ask if the company has experience applying to these incentives.
What Rebates And Incentives Are Currently Available Whats Going To Happen With Solar Incentives In The Future
The U.S. federal government offers a 26 percent tax credit, and many states offer their own incentives such as rebates, tax credits, performance payments, and tax exemptions. However, these incentives will slowly but surely go away as more and more consumers make the switch to solar. Talk to solar power companies in your area to find out which incentives and tax credits are currently available to you.
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Solar Pricing And Financing
Sticker shock is common with solar systems, but keep in mind that youll ultimately save money in the long run thanks to the reduced energy costs. In addition, California offers statewide solar incentives that can help you reduce these upfront costs. Budget can be paramount for homeowners considering solar, and some companies are more flexible than others.
Public Companies Sunrun And Tesla Are On The Offensive
Starting with the top of our Leaderboard rankings, publicly-traded Sunrun again finished the year as the largest residential installer in terms of directly installed capacity, capturing 14% annual market share. The market leader announced the acquisition of Vivint Solar the second-largest residential solar installer in July 2020 and officially closed the deal in October. The acquisition increased Sunruns market share by about six points. Well be tracking the impact of this newly combined entity closely in 2021.
While Sunrun is safely number one for now, a previous giant appears to be on the cusp of resurgence. After five consecutive years of declining volumes and market share in the residential segment, Tesla rebounded to achieve growth and market share gains in 2020. The company installed 73 MW in Q4, marking its highest quarterly output since Q3 2017.
Tesla lost its spot at the top of the Leaderboard rankings in 2018 and has sat below both Sunrun and Vivint since Q1 2019. This came after the former market leader eliminated traditional customer acquisition channels, such as retail and door-to-door sales, and switched solely to selling solar online.
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Installation Factors To Keep In Mind
The decision to invest in solar to gain more energy independence involves many contributing factors. Is solar worth it for you? To make the best decision, consider these factors of solar installation, ownership and maintenance.
| Factor | Details |
|---|---|
| HOA rules | HOAs cannot ban solar panels in Houston due to Texas solar rights laws, but your neighborhood could have rules around the placement or aesthetics of solar panels. Look into your HOA agreement to see if any restrictions apply. |
| Home insurance | Your home insurance may go up by adding solar panels to your home, but it’s important to insure your investment. Speak with your home insurance company in advance to see how adding solar panels will affect your coverage. |
| Home location | Solar power captures energy from the sun, so sunlight is essential for an effective array. Although panels can still generate energy in cold or shaded areas, extreme cover is unfavorable. |
| Own or rent | Ask your landlord if installing solar is permitted at your home if you rent. If not, you can consider community solar programs like Arcadia to use solar energy and possibly see savings on your electric bill. |
| Roof condition | Trusted solar installers will analyze roof quality and age to include any needed repairs when creating an initial solar panel quote. The roof’s size and slope are also a factor in how many solar panels are required, which will affect the productivity of the solar array. |
Best Solar Energy Companies:
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Trends And Issues: The Future Of Solar Companies
As solar spreads to more and more rooftops, utility companies are seeing a threat to their traditional business models. If homeowners can generate their own electricity, thats electricity they are not paying the utility company to produce. Additionally, if states require utility companies to buy any excess electricity residential solar panels produce , thats even more profit lost by the energy companies.
Utility companies are fighting back against this disruption by urging state public utility commissions to hit solar homeowners with grid connection fees and reduced net metering rates, effectively undermining financial incentives to go solar. The solar industry is feeling the pinch in some states due to uncertainty about the future return on investment of residential solar.
While public utility regulators struggle to find ways to fairly include solar energy in the United States electricity mix while maintaining an affordable and reliable energy system, new technologies further complicate the future balance of solar companies and utility companies.
While solar panel manufacturers, financers and installers make up the majority of solar companies, the future of rooftop solar success may lie in a new breed of company: developers of affordable residential battery storage. This, combined with intelligent home energy management systems, may be the tipping point for a home solar explosion.
Q4 Will The Solar Panel Produce Even In Rainy Weather And Are There Any Risks Of Going Solar
Solar systems can generate solar energy by converting sunlight even during rainy days. However, the amount will be less than when the weather outside is sunny. As long as the solar energy system is properly installed, the solar panels should not pose any risk to your home and property.
However, in certain situations, issues such as roof leaks, hot spots, and even fire can occur. For this reason, we recommend choosing the best solar companies on the scene that provide high-quality solar systems and installments to avoid getting into any risky situations.
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Make Sure To Get An Expert Company
Your solar energy system installer should be an expert in the field. If the chosen company passes the NABCEP test and has at least two years of hands-on experience in solar or a similar industry, it is the best method to determine their standards. The North American Board of Certified Solar Energy Practitioners is the best national standard certification program available, and the best solar installers are NABCEP certified. You can also look up reviews for solar companies, especially those that do not have NABCEP certification.
Selected List Of Plants
The United States pioneered solar tower and trough technologies. A number of different solar thermal technologies are in use in the U.S.:
- The largest solar thermal power plant in the world is the 392 MW Ivanpah Solar Power Facility, in California. It deploys 173,500 heliostats each with two mirrors focusing solar energy on boilers located on centralized solar power towers. The facility opened on February 13, 2014.
- The Solana Generating Station is a solar power plant near Gila Bend, Arizona, about 70 miles southwest of Phoenix, completed in 2013. When commissioned it was the largest parabolic trough plant in the world and the first U.S. solar plant with molten salt thermal energy storage. Built by the Spanish company Abengoa Solar, it has a total capacity of 280 megawatts , which is enough to power 70,000 homes while avoiding around 475,000 tons of carbon dioxide. Its name is the Spanish term for “sunny spot”.
- The is a hybrid 75 megawatt parabolic trough solar energy plant that is owned by Florida Power & Light Company . The solar plant is a component of the 3,705 MW Martin County Power Plant, which is currently the single largest fossil fuel burning power plant in the United States. Completed at the end of 2010, it is located in western , just north of Indiantown.
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