16 Best Solar Companies in Greenwood, IN (Oct 2022 Review)

The Cost and Benefits of Solar in Greenwood

We understand that for lots of homeowners, the decision to invest in solar hinges on installation costs. Some significant things that affect how much it will cost and how much you could save include:

• Incentives: The federal solar investment tax credit currently allows you to decrease your taxes by 30% of the project cost. Your state and city may also have various incentives that you can use. Plus, you can save about $18,000 over 20 years on your utility bills, not including incentives.
• The kind of solar panels you can purchase: This is dependent on how much you're willing to invest upfront.
• How much electricity your household consumes: Households that consume a lot of electricity each month may call for more solar panels and, therefore, more upfront cost, but will also benefit more over time.
• Average daily sunlight: Since Greenwood gets a decent amount of average daily sunlight, your solar panels can generally generate enough energy to power your whole home, which affects how much you can save on your energy bills.

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

Solar Incentives in Greenwood

One of the benefits of installing a solar panel system is receiving federal and potentially state incentives. There are quite a few federal, state and local rebates and tax credits that can earn you a decent amount of money in return after buying a solar panel system. You can find out about the incentives available to you in the table below.

Environmental Impact of Switching to Solar in Greenwood

If you're planning on adding solar panels to your home, one of the primary reasons why may be to reduce your carbon footprint. Something many people might be asking themselves is how much can they really help protect the environment by going solar anyway? The more power your family uses, the better off the planet will be if you switch to solar since you won't have to rely on traditional energy sources as much. Though solar panel manufacturing emits carbon dioxide, the panels make up for it by considerably decreasing the amount of CO2 you would have produced if you still used traditional energy. In Greenwood, you can reduce your carbon footprint by 90 pounds a year with solar panels. For those who are worried about the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.