12 Best Solar Companies in New Castle, IN (Sep 2022 Review)

The Cost and Benefits of Solar in New Castle

Solar panels run off a free energy source — the sun — but to take advantage of this you first need to pay to set up your system. The cost and possible savings vary depending on a few key factors such as:

• 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, the more it'll cost.
• Energy consumption: Installing solar panels may be an expensive investment for households that don't consume a lot of energy each month.
• Average daily sunlight: Since New Castle gets a decent amount of average daily sunlight, your solar panels can generally generate enough energy to power your whole home, which impacts how much you can save on your energy bills.
• The cost of electricity in your area: If your local energy rates are especially high, there's a better chance you'll get a higher return on your investment in solar panels. In New Castle, you can save an average of $137 a month on your electricity bills.

Due to solar panels decreasing in cost as well as local and federal solar incentives, they are a solid investment for the majority of homeowners.

Solar Incentives in New Castle

One of the good things about installing a solar panel system is earning government incentives. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which lets you claim 30% of your project costs when you file taxes, reducing the amount of taxes you owe that year. Additionally, there may be some state and city incentives that stack with the ITC too. You can learn about the incentives available to you in the table below.

Environmental Impact of Switching to Solar in New Castle

If you're considering adding solar panels to your home, one of the principal reasons why may be to reduce your carbon dioxide emissions. But you may be curious — how much exactly can you help by making the switch to solar? The more power your house uses, the better off the planet will be when you switch to solar as you won't have to burn as many fossil fuels. Because solar panels don't release carbon dioxide emissions into the atmosphere when creating electricity, they're a good substitute for traditional energy sources. In fact, you could reduce your carbon dioxide emissions by about 90 pounds each year. If you want to do your part for the environment, you'll no doubt get that there are many good things about adopting solar power other than just saving money on bills. You can also help protect the environment, which some would argue is more valuable.