Let's Go Solar
in Idaho

Yes, it's advantageous for most homeowners in Idaho to adopt solar energy. The state boasts a promising environment for harnessing solar power. In terms of cost, the typical price for solar panels in Idaho ranges from $2.27 to $2.77 per watt. After factoring in the 30% federal tax credit, a 5 kW solar panel system comes to an average of $14,850. With the average annual utility bill standing at $1,194.12, the expense of a 6 kW solar setup can be recouped in approximately 12.7 years. By transitioning to solar, Idaho residents stand to make significant savings on their electricity bills. Over a system's lifespan, these savings can amount to between $8,717 and $14,688 post the system's cost offset. Moreover, the state offers a residential alternative energy tax benefit, granting a 40% income tax deduction on the installation costs of solar, wind, geothermal, and select biomass energy devices. From a real estate perspective, each kilowatt of solar panels added to a home can boost its resale value by up to $5,911, as per Zillow's findings. In conclusion, solar installation in Idaho not only offers financial benefits but also adds to a property's market value.

The cost of solar panels in Idaho fluctuates based on the system's size and the specific solar panels chosen. As of October 2023, the typical cost per watt for solar panels in Idaho stands at $2.97/W, though some estimates place this figure at roughly $2.52 or $2.76. After applying the 30% federal tax credit, a 5 kW solar panel system has an average cost of $14,850. Meanwhile, a 6 kW solar array comes in at $17,820 before factoring in incentives and rebates. On average, the payback period for solar panels in Idaho is approximately 12 years. Once the initial system cost is offset, homeowners can anticipate utility savings ranging from $8,717 to $14,688 over the system's lifespan. Additionally, Idaho offers a residential alternative energy tax benefit, allowing a 40% income tax deduction on the installation costs of solar, wind, geothermal, and select biomass energy devices. In summary, the data indicates that transitioning to solar in Idaho is a financially sound decision for the majority of homeowners, promising considerable savings over the years.

Indeed, Idaho provides homeowners with a residential alternative energy tax benefit. This perk enables a 40% income tax deduction on the installation costs of solar, wind, geothermal, and specific biomass energy systems used either for heating or power generation. In the installation year, the deduction can be claimed, followed by 20% deductions annually for the next three years. However, there's a yearly cap of $5,000 and an overall limit of $20,000. Beyond this, Idaho presents an array of financial incentives such as tax credits, rebates, and advantageous net-metering policies. These incentives considerably reduce the upfront costs, making the return on solar investments quicker. Additionally, the federal solar investment tax credit is accessible to Idaho residents, granting a 30% deduction of the solar panel setup costs. In essence, the data indicates that opting for solar energy in Idaho is a judicious choice for many homeowners, leading to significant long-term savings.

Yes, solar panels can indeed boost property values in Idaho. A Zillow study indicates that homes equipped with solar panels in Idaho typically see a value surge of approximately 4.1%. This increase equates to an added value of about $19,160 for homes with an average valuation of $467,315. In a separate study, the National Renewable Energy Laboratory (NREL) determined that properties with solar panels tend to sell for around $15,000 more compared to those without. However, it's worth mentioning that there are contrasting opinions on this matter. For instance, there's a viewpoint that in places like Boise, Idaho, solar installations might not elevate property values. In summary, while solar panels are likely to augment home values in Idaho, the exact increment could differ based on location and other variables.