17 Best Solar Companies in Groton, CT (2023 Reviews)

The Cost and Benefits of Solar in Groton

For many homeowners, the decision to invest in a solar energy system boils down to the cost. The cost of solar and the savings it generates vary depending on a few important factors such as:

• The cost of electricity in your area: If your local utility rates are quite high, there's a good chance you'll end up with a higher return on your investment in a solar system. In Groton, you can save an average of $91 a month on your electricity bills.
• Energy consumption: Installing solar panels may be a high-cost option for homes that don't need too much energy per month.
• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, lets you deduct 30% of the cost of installing your solar panel system from your taxes. Plus, not including incentives, you can save about $23,000 over 20 years on your energy bills.
• System size and type: Some models are more expensive than others, so the one you want to get can raise or lower your upfront cost. Plus, the more solar panels you need, the more it'll cost.

Though a solar panel system costs a decent chunk of money upfront, it can save you thousands of dollars over the lifespan of your panels. The question of how much, though, depends on a number of factors, including the size of your house and your current power bills.

Solar Incentives in Groton

If you're planning on switching to solar power, several government incentives and subsidies can drastically lower your project costs and expedite the return on your investment. 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 when you file taxes, reducing the amount of taxes you owe that year. Plus, there may be some local incentives you can benefit from too. Our article on solar incentives goes over more in-depth information on the incentives you can benefit from in Groton.

Environmental Impact of Switching to Solar in Groton

If you're considering adding solar panels to your home, one of the main reasons why may be to reduce your greenhouse gas emissions. But how much can using solar energy instead of traditional energy actually affect the environment? How much energy you use is a significant factor to consider. The more energy you use, the greater your impact when you go solar. Because solar panels don't release greenhouse gas emissions into the atmosphere when producing electricity, they're a good swap for nonrenewable energy sources. In fact, you could lower your carbon dioxide emissions by about 40 pounds each year. For people who care about the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.