17 Best Solar Companies in Madisonville, KY (Feb 2023 Review)

The Cost and Benefits of Solar in Madisonville

The cost of putting up a solar panel system has decreased greatly over the past few years, but it's still a significant investment for most homeowners. The cost and possible savings vary depending on some key factors such as:

• Average daily sunlight: Since Madisonville gets a decent amount of average daily sunlight, your solar panels can generally produce enough energy to power your whole home, which influences how much you can save on your energy bills.
• System size and type: Some models are more pricy than others, so the one you want can raise or lower your upfront cost. Plus, the more solar panels you need to get, the more it'll cost.
• Electricity consumption: The average household in Madisonville uses a lot of energy, and so may see more savings on electricity bills than other places.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you deduct 30% of your overall installation cost, your local government may offer additional tax exemptions, credits or rebates that can help you save even more. Not including incentives, you can save an average of $17,000 over the first 20 years with your solar system, too.

So is installing solar panels worth it? Whether you hope to reduce your energy bills, carbon emissions or both, solar panels are a good investment for many Madisonville homeowners.

Solar Incentives in Madisonville

In order to increase the number of homes and businesses that use solar power, federal and local governments — and even some utility companies — offer incentives to help make switching to solar power more financially viable and accessible. When you install solar panels, you can take advatage of the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. In addition, there are often some state and city incentives that you can benefit from to further cut back on the cost of solar of solar panels. In our article on solar incentives, you can see the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Madisonville

There are tons of reasons to switch to solar power, like saving some money on utility bills and helping to reduce your carbon footprint. But how much can installing solar panels actually affect the environment? The more energy your house uses, the the more the environment will benefit when you switch to solar as you won't need to burn as many fossil fuels. When you go solar, your carbon dioxide emissions can be cut by about 80 pounds each year. If you care about the environment, you'll most likely get that there are many good things about adopting solar power other than just saving money on electricity. You can also help preserve the environment, which some would argue is invaluable.