15 Best Solar Companies in Elkhart, IN (Jun 2022 Review)

The Cost and Benefits of Solar in Elkhart

Even though solar panels can save you a decent chunk of change on energy over time, it's important to take into consideration the startup costs. A few important factors that affect the cost of installing a solar panel system on your home and how much money you could save over time are:

• The kind of solar panels you want to get: Higher-efficiency panels have higher prices, so that will affect your budget for your solar project.
• Your location: This affects the average daily sunlight your roof gets, which helps determine how many panels you need.
• Incentives: Tax-paying citizens who install a solar system this year can save 26% of their overall solar costs by taking advantage of the federal solar investment tax credit. You can also save about $18,000 on your energy bills over 20 years not including incentives.
• Energy consumption: Solar may be a high-cost investment for households that don't use a good amount of energy per month.

There are lots of great benefits of solar despite the upfront cost of installation. It can help the environment and your wallet. In addition, it can increase the value of your home, resulting in even more benefits if you choose to sell your home later.

Solar Incentives in Elkhart

If you're planning on making the switch to solar energy, various government incentives and solar rebates can drastically lower the installation costs and expedite the return on your investment. When you install a solar panel system on your home, you can claim the federal tax credit, or ITC. This credit currently lowers your tax bill by 26% of the cost of your solar panels. Plus, there may often be some state and city incentives that you can use to further save. Check out the table below to learn what incentives are available to you.

Environmental Impact of Switching to Solar in Elkhart

There are a few important reasons why many people want to invest in solar energy: to help their wallet and the environment. But you may be wondering — how much exactly can you help the planet by using solar power? How much energy you use is a significant factor to think about. The more electricity your home uses, the bigger your impact when you go solar. Even though solar panel manufacturing releases carbon dioxide emissions, the panels make up for it by significantly reducing the amount of CO2 you would have been responsible for if you still used nonrenewable energy. In Elkhart, you can reduce your carbon footprint by 90 pounds a year with solar panels. As you can see, trading traditional energy for solar has so many other perks outside of saving money. One of the main ones is that you can help save the planet too.