14 Best Solar Companies in Hot Springs Village, AR (Sep 2022 Review)

The Cost and Benefits of Solar in Hot Springs Village

For a lot of homeowners, the decision to invest in a solar energy system boils down to the cost. The cost and possible savings vary depending on some key factors such as:

• Average daily sunlight: Since Hot Springs Village gets a decent amount of average daily sunlight, your solar panels can generally generate enough energy to power your whole home, which impacts how much your solar panels can save you on your electricity bills.
• average energy usage: The more electricity your home consumes on average and the higher your current electricity bills are, the more benefits you'll see from going solar.
• Incentives: Something that can make your solar project cost less is the solar investment tax credit (ITC), which is a tax credit that lets you deduct from your taxes a percentage of the project cost. You can also save on your power bills, which can lead to an average of $17,000 of savings over 20 years.
• How much you spend on energy: The average family in Hot Springs Village spends around $1,500 a year on energy alone, so you could end up with that much in savings.

Solar is a valuable investment for most homeowners. You can generate your own energy instead of paying for it from a utility company and make use of solar tax credits and rebates, all while helping preserve the planet.

Solar Incentives in Hot Springs Village

Although a solar power system is typically a $15,000 to $25,000 investment, it can save you much money over time due to lower utility bills and government incentives. You can qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your solar panels. You can also possibly stack the ITC with other local incentives. You can find out about the incentives you can take advantage of in the table below.

Environmental Impact of Switching to Solar in Hot Springs Village

Many want to do their part to help the environment, which in many cases is the primary motivation to install solar panels. A question many homeowners might have in mind is how much can they really help preserve the environment by going solar anyway? How much energy you use is a significant factor to consider. The more energy your home uses, the larger your impact when you make the switch to solar power. In Hot Springs Village, the average resident can lower their carbon footprint by 70 pounds a year once they go solar. If you want to do what you can for the environment, you'll most likely get that there are many good things about adopting solar energy other than just saving money on bills. You can also help preserve the environment, which some would argue is more valuable.