12 Best Solar Companies in Lafayette, CA (Oct 2022 Review)

The Cost and Benefits of Solar in Lafayette

For most homeowners, whether or not you should invest in solar energy boils down to the cost. The cost of solar and the savings it generates vary depending on a few key factors such as:

• Average daily sunlight: Since Lafayette gets lots of sunlight, your solar panel system will most likely be able to produce enough energy to power your whole home, which affects how much your solar panels can save you on your electricity bills.
• Incentives: Tax-paying citizens who purchase and install a solar energy system this year can save 30% of their solar installation costs by taking advantage of the federal solar investment tax credit. You can also save about $33,000 on your electricity bills over 20 years not including incentives.
• How much you spend on energy: The average household in Lafayette shells out around $1,100 a year on energy alone, so you could be looking at that much in savings.
• Choice of solar panels: The kind of solar panels you get 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 you don't need to maximize efficiency, you can opt for a higher number of more affordable panels.

There are several good benefits of solar despite the initial cost of installation. It can help the planet and your wallet. Additionally, it can increase the value of your home, leading to even more benefits if you want to sell your home later.

Solar Incentives in Lafayette

To increase solar panel installation and usage, federal, state and local governments — and even some utility companies — offer incentives to help make solar power more affordable and accessible. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which allows you to claim 30% of your project costs on your tax return, reducing the amount of taxes you owe that year. In addition, there may be some state and city incentives you can benefit from too. The table below shows you the incentives you can take advantage of in Lafayette.

Environmental Impact of Switching to Solar in Lafayette

Switching to solar energy can have a beneficial impact on the environment. But you may be curious — how much exactly can you help the environment by making the switch to solar? One thing you should consider is your overall carbon footprint. For example, if you spend a lot of time in the car and have an electric vehicle, you can use solar energy for your home to power your EV and therefore help offset your carbon emissions. Although solar panel production emits carbon dioxide, the panels make up for it by considerably lowering the amount of CO2 you would have been responsible for if you still used traditional energy. In Lafayette, you can reduce your carbon footprint by 50 pounds a year with solar panels. For those who are worried about the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.