17 Best Solar Companies in New Albany, IN (Oct 2022 Review)

The Cost and Benefits of Solar in New Albany

Solar panels run off a free energy source — the sun — but before you can take advantage of this you will need to pay to install your panels. The cost of solar and the savings it generates vary depending on a few important factors such as:

• Energy consumption: Installing a solar system may be too steep of an investment for homes that don't consume a good amount of energy each month.
• Incentives: The federal solar investment tax credit, which everyone qualifies for, lets you deduct 30% of the cost of installing your solar panel system from your taxes. Plus, not including incentives, you can save about $18,000 over 20 years on your energy bills.
• System size and type: Some models are more costly than others, so the one you decide on can raise or lower your initial investment. Plus, the more solar panels you need to buy, the more it'll cost.
• Whether or not your roof gets a lot of direct sunlight: This, along with your roof configuration, affects affect how much power your solar panels can generate.

So is buying solar panels worth it? Whether you want to decrease your electricity costs, carbon dioxide emissions or both, solar panels are a great investment for many New Albany homeowners.

Solar Incentives in New Albany

Although installing solar panels is typically a large investment, it can save you a lot of money over time because of reduced power bills and government incentives. These incentives normally take the form of cash rebates, tax breaks and/or performance-based incentives. They can lower how much you pay for installing solar panels by 26 to 50% in some cases. In the table below, you can read about the incentives you qualify for in your area.

Environmental Impact of Switching to Solar in New Albany

Installing solar panels is a good way to do what you can for a more sustainable future. You may be asking yourself — how much does going solar help the planet anyway? Switching to green energy for electricity rather than using nonrenewable energy is an effective way to lower your carbon footprint if you're worried about New Albany's sizable level of greenhouse gas emissions. In fact, if you make the switch to solar power, you could look forward to lowering your carbon dioxide emissions by about 90 pounds each year. For people who are worried about the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.