14 Best Solar Companies in Lynnfield, MA (Sep 2022 Review)

The Cost and Benefits of Solar in Lynnfield

For the majority of homeowners, whether or not you should invest in solar panels boils down to the cost. The installation cost is just one important factor you should keep in mind when looking into getting solar panels. How much it'll cost and how much you can save depend on things including:

• Your current power bills: Solar panels can substantially reduce, or completely get rid of, your utility bills. In Lynnfield, you can save an average of $79 a month.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you deduct 30% of your total installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Excluding incentives, you can save an average of $21,000 over the first 20 years with your system, too.
• The amount of sunlight your house gets: Thanks to Lynnfield's high amount of average daily sunlight, you should be able to save a decent amount on your electric bills.
• The model of solar panels you're planning on getting: More efficient models are more costly, so that will influence your budget for your solar project.

So are solar panels worth it? Whether you're trying to decrease your electric bills, carbon dioxide emissions or both, solar panels are a worthwhile investment for many Lynnfield homeowners.

Solar Incentives in Lynnfield

Although solar power is typically a $15,000 to $25,000 investment, it can save you a considerable amount of money over the lifespan of your solar panels because of smaller utility bills and government incentives. In addition to the federal tax credit incentive, there are also some local incentives, which in most cases, can be claimed in addition to the federal incentive, so you can save even more. For detailed information about local incentives, see the table below.

Environmental Impact of Switching to Solar in Lynnfield

One of the reasons so many consider adopting solar energy is to help reduce their environmental impact. But you may be curious — how much exactly can you help by making the switch to solar? A key thing to keep in mind is your overall carbon footprint. For example, if your commute is very long, your footprint may be greater, so adopting solar energy for your house can help offset that. Because solar panels don't release carbon dioxide emissions into the atmosphere when producing electricity, they're a good swap for nonrenewable energy sources. In fact, you could look forward to lowering your carbon dioxide emissions by about 40 pounds each year. As you can see, going solar has so many other benefits beyond saving money. One of the main ones is that you can help save the environment too.