14 Best Solar Companies in Lake Forest, CA (Mar 2023 Review)

The Cost and Benefits of Solar in Lake Forest

Solar panels are powered by a free energy source — the sun — but before you can take advantage of this you will first need to pay to install your system. The cost and possible savings vary depending on some important factors such as:

• Your location: This influences how much sunlight your roof gets, which helps determine how many panels you need.
• Incentives: Tax-paying citizens who buy and install a solar system this year can save 30% of their solar installation costs by using the federal solar investment tax credit. You can also save about $27,000 on your utility bills over 20 years not including incentives.
• System size and type: Some models are more pricy than others, so the one you get can raise or lower your initial investment. Plus, the more solar panels you need, the more it'll cost.
• Your power bills: This will impact your savings. In Lake Forest, the average homeowner can save about $810 a year on their electricity bills.

Thanks to the cost of solar panels being lower than before as well as several solar incentives, they are a sound investment for the majority of homeowners.

Solar Incentives in Lake Forest

In an effort to increase the adoption of solar power, incentives are offered by the government — and even some utility companies — to help make solar power more financially viable and accessible. No matter what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will allow 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 local incentives you can benefit from too. For comprehensive information about local incentives, visit our our article on solar incentives.

Environmental Impact of Switching to Solar in Lake Forest

One of the most compelling reasons to tap into solar power is to cut your reliance on nonrenewable energy sources like burning fossil fuels, which are destructive for the environment. But how much can installing solar panels actually help the environment? The average person has a rather large carbon footprint. Between their car, which releases over 10,000 pounds of carbon dioxide emissions every year, and powering their home, it can be overwhelming to think about what to do. Switching to solar is a practical thing you can do to help. In fact, if you adopt solar power, you could expect to reduce your carbon dioxide emissions by about 50 pounds each year. If you want to do your part for the environment, you'll no doubt get that there are many good things about adopting solar energy other than just saving money on electricity. You can also help protect the environment, which some would argue is priceless.