12 Best Solar Companies in West Lafayette, IN (Oct 2022 Review)

The Cost and Benefits of Solar in West Lafayette

The cost of installing a solar panel system has decreased significantly over the past several years, but it's still a significant investment for most homeowners. Some important things that influence how much it will cost and how much you could save include:

• Your current electric bills: Solar panels can substantially reduce, or totally get rid of, your utility bills. In West Lafayette, you can save an average of $139 a month.
• 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 incentives and rebates that you can take advantage of. Additionally, you can save about $18,000 over 20 years on your utility bills, not including incentives.
• Energy consumption: Installing a solar system may be too pricey an investment for homes that don't consume a lot of energy per month.
• The amount of sunlight your rooftop gets: Because of West Lafayette's high amount of average daily sunlight, you should be able to save a decent amount on your electric bills.

There are many wonderful benefits of solar even with the initial cost of installation. It can help the Earth and your finances. Additionally, it can boost the value of your home, giving you even more benefits if you decide to sell your home later.

Solar Incentives in West Lafayette

In an effort to increase the number of homes and businesses that use solar power, federal, state and local governments — and even some utility companies — offer incentives to help make solar more affordable and accessible. On top of the federal solar investment tax credit, there are also some state- and city-level programs, which in most cases, can be claimed in addition to the federal incentive, so you can save even more. Check out the table below to find out what incentives you can take advantage of.

Environmental Impact of Switching to Solar in West Lafayette

Installing solar panels can have a meaningful effect on the environment. A question many homeowners might be thinking about is how much can they really help preserve the environment by switching to solar power anyway? A significant thing to consider is your overall carbon footprint. For example, if you have a long commute, your footprint may be bigger, so adopting solar power for your house can help offset that. Because solar panels don't release CO2 emissions into the atmosphere when creating electricity, they're a good swap for nonrenewable energy sources. In fact, you could look forward to lowering your carbon dioxide emissions by about 90 pounds each year. If you want to do what you can for the environment, you'll likely recognize that there are many benefits of adopting solar power other than just saving money on bills. You can also help protect the environment, which some would argue is invaluable.