13 Best Solar Companies in Providence, KY (Mar 2023 Review)

The Cost and Benefits of Solar in Providence

For the majority of homeowners, whether or not you should invest in a solar energy system comes down to the cost. The cost of solar and the savings it generates vary depending on some important factors such as:

• The kind of solar panels you want to get: Higher-efficiency panels cost more, so that will shape your budget for your solar project.
• Your city: This influences the average daily sunlight your roof gets, which helps determine how many panels you need.
• Incentives: The federal solar investment tax credit, which everyone qualifies for, lets you deduct 30% of the cost of installing your solar panel system from your federal taxes. In addition, not including incentives, you can save about $17,000 over 20 years on your energy bills.
• Electricity consumption: The average home in Providence uses a lot of energy, and therefore may see more savings on electricity bills than other places.

So is installing solar panels worth it? Whether you're trying to decrease your energy bills, greenhouse gas emissions or both, solar panels are a solid investment for many Providence homeowners.

Solar Incentives in Providence

In order 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 switching to solar power more economical and accessible. You can qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your a solar system. You can also possibly stack the ITC with other local rebates and benefits. Check out our article on solar incentives to see what incentives you can take advantage of.

Environmental Impact of Switching to Solar in Providence

One of the most compelling reasons to tap into solar energy is to reduce your dependence on traditional energy sources like burning fossil fuels, which are destructive for the environment. You may be curious — how much do solar panels do for the environment anyway? The more power your family uses, the better off the planet will be from you switching to solar since you won't need to rely on traditional energy sources as much. While solar panel production emits carbon dioxide, the panels make up for it by significantly reducing the amount of CO2 you would have released if you still used nonrenewable energy. In Providence, you can reduce your carbon footprint by 80 pounds a year with solar panels. For those who are concerned about the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.