14 Best Solar Companies in Hingham, MA (Oct 2022 Review)

The Cost and Benefits of Solar in Hingham

The cost of putting up a solar panel system has dropped significantly in the past few years, but it's still a significant investment for most homeowners. A few important factors that dictate the cost of installing solar panels on your home and how much money you could save over time are:

• The kind of solar panels you're thinking of getting: Higher-efficiency panels are more expensive, so that will affect your budget for your solar project.
• The amount of sunlight your city gets: Due to Hingham's high amount of average daily sunlight, you should be able to save a decent amount on your energy bills.
• average energy usage: The more electricity your household consumes on average and the greater your current electricity bills are, the more money you could save by making the switch to solar.
• Incentives: Something that can save you money on 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 a decent amount of money on your power bills, which can give you an average of $23,000 of savings over 20 years.

So is a solar panel system worth it? Whether you hope to reduce your electricity costs, carbon emissions or both, solar panels are a worthwhile investment for many Hingham homeowners.

Solar Incentives in Hingham

In order to increase the adoption of solar power, incentives are offered by the government — and even some utility companies — to help make going solar more economically viable and accessible. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which allows you to claim 30% of how much your solar project cost when you file taxes, reducing the amount of taxes you owe that year. Additionally, there may be some state and city incentives you can benefit from too. The table below lets you know about the incentives you can take advantage of in Hingham.

Environmental Impact of Switching to Solar in Hingham

Swapping traditional energy for solar is a great way to do your part for a more environmentally-friendly future. You may be asking yourself — how much do solar panels do for the environment anyway? A significant thing to consider is your overall carbon footprint. For example, if you spend a lot of time driving to work, your footprint may be bigger, so adopting solar power for your house can help offset that. Since solar panels don't release carbon dioxide emissions into the atmosphere when producing electricity, they're a good alternative to nonrenewable energy sources. In fact, you could reduce your carbon dioxide emissions by about 40 pounds each year. As you can see, trading traditional energy for solar has so many other perks besides saving money. One of the most important ones is that you can help save the planet too.