17 Best Solar Companies in Nicholasville, KY (Dec 2022 Review)

The Cost and Benefits of Solar in Nicholasville

Solar panels run off a free energy source — the sun — but to take advantage of this you must first pay to install your system. The cost of solar and the savings it generates vary depending on some key factors such as:

• Choice of solar panels: The type of solar panels you are interested in getting will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also lead to more savings over the lifetime of your system. If you don't need to maximize efficiency, you can opt for a higher number of more affordable panels.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total 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 $15,000 over the first 20 years with your system, too.
• Energy consumption: Installing solar panels may be an expensive option for households that don't need a good amount of energy a month.
• Your location: This influences how much sunlight your roof gets, which helps determine how many panels you need.

There are several great benefits of solar despite the upfront cost of installation. It can help the environment and your bank account. Additionally, it can boost the value of your home, leading to even more benefits if you decide to sell your home later.

Solar Incentives in Nicholasville

In an effort to increase the adoption of solar power, incentives are offered by the government — and even some utility companies — to help make solar more economically viable and accessible. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will allow you to claim 30% of your project costs when you file taxes, lowering the amount of taxes you owe that year. Plus, there may be some state and city incentives you can benefit from too. Our article on solar incentives has more information on the incentives you can benefit from in Nicholasville.

Environmental Impact of Switching to Solar in Nicholasville

There are a few important reasons why homeowners want to invest in solar energy: for the good of their bank accounts and the planet. But how much can switching to solar actually help the environment? If your household consumes lots of energy, you can have an even greater impact on the planet by switching to solar energy. In Nicholasville, the average homeowner can lower their carbon footprint by 80 pounds a year once they go solar. As you can see, investing in solar has so many other perks besides saving money. One of the main ones is that you can help save the environment too.