17 Best Solar Companies in Malden, MA (Aug 2022 Review)

The Cost and Benefits of Solar in Malden

The cost of installing solar panels has dropped greatly in the past few years, but it's still a large investment for most homeowners. The installation cost is just one important factor you should take into account when looking into installing solar panels. How much it'll cost and how much you can save depend on things such as:

• How much energy costs for you: If your local utility rates are quite high, there's a better chance you'll end up with a higher return on your investment in solar panels. In Malden, you can save an average of $86 a month on your electricity bills.
• System size and type: Some models are more costly than others, so the one you choose can raise or lower your upfront cost. Plus, the more solar panels you need to buy, the more it'll cost.
• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, allows you to deduct 26% of the cost of installing your solar panel system from your taxes. In addition, not including incentives, you can save about $22,000 over 20 years on your energy bills.
• How much electricity your household consumes: Households that use a lot of energy each month may call for more solar panels and, therefore, be more costly, but will also benefit more over time.

Solar is a rewarding investment for most homeowners. You can generate your own power instead of paying for it from a utility company and benefit from solar tax credits and rebates, all while helping protect the environment.

Solar Incentives in Malden

There are lots of reasons why going solar is a great investment. One of them involves some government incentives you can take advantage of. When you install solar panels on your house, you can take advatage of the federal tax credit, or ITC. This credit currently lowers your tax bill by 26% of the cost of your solar panels. Plus, there may often be some state and city incentives that you can benefit from to further cut back on the cost of solar of solar panels. The table below gives you an idea of the incentives you can find in Malden.

Environmental Impact of Switching to Solar in Malden

One of the reasons so many are considering adopting solar energy is to help reduce their environmental impact. But — how much exactly can you help the planet by making the switch to solar? One thing you should keep in mind is your overall carbon footprint. For example, if you spend a lot of time in the car and have an electric vehicle, you can install solar panels on your home to power your EV and therefore help offset your carbon emissions. Once you go solar, your carbon footprint can be cut by about 40 pounds each year. For homeowners who care about the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.