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

The Cost and Benefits of Solar in Lynnfield

Even though solar panels can help save you a decent chunk of change on electricity bills over time, it's important to consider the startup costs. The cost of solar and the savings it generates vary depending on some key factors such as:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you deduct 26% of your total installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Not including incentives, you can save an average of $21,000 over 20 years with your solar panels, too.
• How much electricity your home consumes: Homes that consume a lot of electricity each month may need more solar panels and, consequently, be more costly, but will also enjoy more savings over time.
• Your power bills: This will affect how much money you might save. In Lynnfield, the average homeowner can save about $950 a year on their electricity bills.
• The type of solar panels you're thinking of getting: Higher-efficiency panels are more expensive, so that will affect your budget for your solar project.

Thanks to solar panels now being cheaper than ever as well as various solar incentives, they are a worthwhile investment for the majority of homeowners.

Solar Incentives in Lynnfield

There are several reasons why going solar is a great investment. One of them involves some government incentives that can help save you some money. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which lets you claim 26% of how much your solar project cost on your tax return, reducing the amount of taxes you owe that year. In addition, there may be some state and city incentives that stack with the ITC too. In the table below, you can see the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Lynnfield

Going solar can have a beneficial effect on the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Lynnfield, though. Switching to clean energy for electricity instead of burning fossil fuels is a good way to lower carbon dioxide emissions if you're concerned about Lynnfield's fair level of greenhouse gas emissions. In Lynnfield, the average resident can lower their carbon footprint by 40 pounds a year after going solar. The advantages of solar power are infinite — just like solar power is! That's why so many people have been happy with making the switch to solar.