15 Best Solar Companies in Lafayette, IN (Feb 2023 Review)

The Cost and Benefits of Solar in Lafayette

Solar panels run off a free energy source — the sun — but before you can take advantage of this you will need to pay to set up your system. There are a few factors you should take into consideration when determining the overall cost and how much you can save, including:

• How much electricity your household consumes: Households that need a lot of electricity each month may call for more solar panels and, therefore, be more expensive, but will also enjoy more savings over time.
• System size and type: Some models are more expensive than others, so the one you want can raise or lower your initial investment. Plus, the more solar panels you need to get, the more it'll cost.
• How much sunlight your roof gets: If your rooftop doesn't see much direct sunlight, your solar system won't be able to produce as much energy, which will leave you with lower savings on power bills than a roof that gets plenty of sunlight.
• Incentives: The federal solar investment tax credit currently lets you reduce your taxes by 30% of the project cost. Your state and city may also have various incentives that you can take advantage of. Plus, you can save about $17,000 over 20 years on your utility bills, without incentives.

So is a solar panel system worth it? Whether you want to lower your energy bills, carbon emissions or both, solar panels are a good investment for many Lafayette homeowners.

Solar Incentives in Lafayette

There are many reasons why adopting solar power is beneficial. One of them includes some government incentives that can save you money. When you install solar panels, you can take advatage of the federal tax credit, or ITC. This credit currently lets you lower your tax bill by 30% of the cost of your solar panels. Additionally, there are often some regional incentives that you can benefit from to further cut back on the cost of solar of solar panels. You can learn about the incentives you can use in our article on solar incentives

Environmental Impact of Switching to Solar in Lafayette

There are many reasons to make the switch to solar power, like saving money on utility bills and helping to reduce your carbon footprint. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Lafayette, though. One thing that can dramatically influence your carbon footprint is your commute time and how much you drive altogether. If you go solar and drive an electric car, you can significantly cut back on your carbon dioxide emissions by charging your car at home. Although making solar panels emits carbon dioxide, the panels make up for it by significantly reducing the amount of CO2 you would have produced if you still used traditional energy. In Lafayette, you can reduce your carbon footprint by 90 pounds a year with solar panels. As you can see, investing in solar has so many other perks beyond saving money. One of the major ones is that you can help save the Earth too.