11 Best Solar Companies in Elwood, IN (Sep 2022 Review)

The Cost and Benefits of Solar in Elwood

When picking a solar company, most homeowners or business owners think about the costs the most. The cost and possible savings vary depending on a few key factors such as:

• Your city: This influences how much sunlight your roof receives, which helps determine how many panels you need.
• Incentives: The federal solar investment tax credit, which everyone qualifies for, allows you to deduct 30% of the cost of installing your solar panel system from your federal taxes. Plus, not including incentives, you can save about $17,000 over 20 years on your energy bills.
• How much power your household needs: If your household regularly uses a lot of energy, you'll benefit more from installing solar panels.
• The model of solar panel system you can afford: This hinges on your income and budget.

So are solar panels worth it? Whether you hope to decrease your energy bills, greenhouse gas emissions or both, solar panels are a solid investment for many Elwood homeowners.

Solar Incentives in Elwood

Although a solar power system is typically a big investment, it can save you a considerable amount of money over time because of reduced power bills and government incentives. These incentives usually take the form of cash rebates, tax benefits and/or solar renewable energy credits. They can reduce how much you end up spending on going solar by 26 to 50% in some cases. In the table below, you can read about the incentives you qualify for in Elwood.

Environmental Impact of Switching to Solar in Elwood

There are a few main reasons why many people are interested in solar energy: for the good of their bank accounts and the planet. But how much can using solar energy instead of traditional energy actually affect the environment? The more energy you use, the better off the planet will be if you switch to solar as you won't have to use as much nonrenewable energy. Even though solar panel production emits carbon dioxide, the panels make up for it by significantly decreasing the amount of CO2 you would have been responsible for if you still used traditional energy. In Elwood, you can reduce your carbon footprint by 90 pounds a year with solar panels. Since solar energy is abundant and generates electricity without CO2 emissions, adding solar panels to your home is one easy step you can take to help the environment.