13 Best Solar Companies in Morganfield, KY (Jan 2023 Review)

The Cost and Benefits of Solar in Morganfield

When deciding on a solar company, most homeowners or business owners care about the costs above all. A few key factors that dictate how much it will cost to install solar panels on your home and how much it could save you over time include:

• Average daily sunlight: Since Morganfield gets a decent amount of average daily sunlight, your solar panels can generally produce enough energy to power your whole home, which affects how much your electricity bills will be.
• How much power your household needs: If your household uses a lot of energy, you'll see more savings from switching to solar.
• The make and model of solar panels you want to get: More efficient panels have higher prices, so that will influence your budget for your solar project.
• Incentives: Something that can reduce the cost of your solar project is the solar investment tax credit (ITC), which is a tax credit that lets you deduct from your taxes a percentage of the project cost. You can also save on your energy bills, which can lead to an average of $17,000 of savings over 20 years.

Even though a solar panel system costs a sizable chunk of money upfront, it can save you a considerable amount over time. The question of how much, though, depends on several factors, such as the angle of your roof and your current power bills.

Solar Incentives in Morganfield

One of the good things about installing a solar panel system is receiving incentives from the government. When you install solar panels on your home, 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. Additionally, there are often some state and city incentives that you can use to further cut back on the cost of solar of solar panels. For more information about local incentives, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Morganfield

One of the reasons so many people are considering adopting solar energy is to help lower their environmental impact. You may be wondering — how much does going solar do for the planet anyway? If your family consumes a lot of energy, you can impact the environment even more by switching to solar power. Because solar panels don't release carbon dioxide emissions into the atmosphere when producing electricity, they're a good substitute for nonrenewable energy sources. In fact, you could be looking at reducing your carbon dioxide emissions by about 80 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 electricity. You can also help protect the environment, which some would argue is invaluable.