14 Best Solar Companies in Monticello, KY (Mar 2023 Review)

The Cost and Benefits of Solar in Monticello

Although solar panels can help save you a decent chunk of change on electricity bills over time, it's necessary to know the upfront costs. There are a few factors you should take into consideration when determining the overall cost and how much you can save, including:

• Choice of solar panels: The type of solar panels you need will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also save you more money over the lifetime of your system. If you don't need to maximize efficiency, you can go with a higher number of more affordable panels.
• The amount of sunlight your roof gets: If your roof doesn't get a lot of direct sunlight, your solar panels won't be able to generate as much energy, which will leave you with lower savings on power bills than a roof that gets lots of sunlight.
• How much power your home consumes: Homes that use a lot of electricity each month may need more solar panels and, therefore, be more expensive, but will also save more on their energy bills over time.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your overall installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Not including incentives, you can save an average of $16,000 over the first 20 years with your solar panels, too.

Though a solar panel system costs a decent chunk of money upfront, it can save you much more in the long term. The question of how much, though, depends on a number of factors, like the size of your solar panel system and your local electricity rates.

Solar Incentives in Monticello

One of the benefits of installing a solar panel system is receiving federal and potentially state incentives. When you install solar panels on your home, you can claim the federal tax credit, or ITC. This credit currently lowers your tax bill by 30% of the cost of your solar panels. Additionally, there may often be some regional incentives that you can benefit from to further save. Our article on solar incentives goes over more in-depth information on the incentives you can find in Monticello.

Environmental Impact of Switching to Solar in Monticello

Installing solar panels is a profound way to do your part for a cleaner and more sustainable future. A question many people might have in mind is how much can they really help preserve the environment by going solar anyway? Everyone can help the environment by switching to solar energy, but homes that consume more energy will have a bigger impact. In fact, if you make the switch to solar power, you could expect to reduce your carbon dioxide emissions by about 80 pounds each year. If you want to do what you can for the environment, you'll most likely recognize that there are many good things about adopting solar power other than just saving money on bills. You can also help preserve the environment, which some would argue is priceless.