13 Best Solar Companies in Lonoke, AR (2023 Reviews)

The Cost and Benefits of Solar in Lonoke

While solar panels can save you a decent chunk of change on electricity bills over time, it's important to consider the upfront costs. Some significant things that impact the upfront cost and potential savings over time include:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you deduct 30% of your total installation cost, your state or local government may offer additional tax exemptions, credits or rebates that can help you save even more. Not including incentives, you can save an average of $17,000 over the first 20 years with your system, too.
• Choice of solar panels: The type of solar panels you need will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also lead to more savings over the lifetime of your system. If space isn't a constraint for your project, you can opt for a higher number of more affordable panels.
• Energy consumption: Solar may be a high-cost option for homes that don't consume a good amount of energy a month.
• The amount of sunlight your house gets: Thanks to Lonoke's very high amount of average daily sunlight, you should be able to save a lot on your power bills.

As a result of solar panels decreasing in cost as well as local and federal solar incentives, they are a solid investment for the majority of homeowners.

Solar Incentives in Lonoke

In order to increase solar panel installation and usage, federal, state and local governments — and even some utility companies — offer incentives to help make going solar more affordable and accessible. When you install a solar panel system, you can claim the federal tax credit, or ITC. This credit currently lets you reduce your tax bill by 30% of the cost of your solar panels. Additionally, there may often be some local incentives that you can take advantage of to further cut back on the cost of solar of solar panels. Our article on solar incentives has more information on the incentives you can benefit from in Lonoke.

Environmental Impact of Switching to Solar in Lonoke

Installing solar panels is a powerful way to do what you can for a cleaner and more sustainable future. But you may be curious — how much exactly can you help the environment by going solar? The amount of energy you use is an important factor to consider. The more power your home uses, the bigger your impact when you switch to solar energy. Even though solar panel manufacturing emits carbon dioxide, the panels make up for it by significantly lowering the amount of CO2 you would have released if you still used nonrenewable energy. In Lonoke, you can reduce your carbon footprint by 70 pounds a year with solar panels. Since solar energy is abundant and generates electricity without releasing carbon emissions, installing solar panels is one easy step you can take to help preserve the planet.