18 Best Solar Companies in Cumberland, IN (Mar 2023 Review)

The Cost and Benefits of Solar in Cumberland

The cost of installing solar panels has decreased significantly in the past several years, but it's still a large investment for most homeowners. Some important things that determine the cost and possible savings include:

• Choice of solar panels: The type of solar panels you buy 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 go with a higher number of more affordable panels.
• The amount of sunlight your area gets: Because of Cumberland's high amount of average daily sunlight, you should be able to save a decent amount on your power bills.
• Incentives: Something that can save you money on your solar project is the solar investment tax credit (ITC), which is a tax credit that's equal to a percentage of the project cost. You can also save a decent amount of money on your utility bills, which can give you an average of $17,000 of savings over 20 years.
• Electricity consumption: The average household in Cumberland uses a lot of energy, and as a result may see more savings on electricity bills than other places.

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

Solar Incentives in Cumberland

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 economically viable and accessible. Everyone can take advantage of the federal Solar Investment Tax Credit (ITC), which will let you claim 30% of how much you paid for your solar installation when you file taxes, lowering the amount of taxes you owe that year. Plus, there may be some local incentives you can benefit from too. Check out our article on solar incentives to find out what incentives you can benefit from.

Environmental Impact of Switching to Solar in Cumberland

One of the best reasons to embrace solar power is to reduce your dependence on nonrenewable energy sources like burning fossil fuels, which are harmful for the environment. But how much can installing solar panels actually help the environment? If your family uses lots of energy, you can have an even greater impact on the planet by switching to solar power. In Cumberland, the average household can reduce their carbon footprint by 90 pounds a year once they go solar. As you can see, trading traditional energy for solar has so many other benefits besides saving money. One of the major ones is that you can help save the Earth too.