16 Best Solar Companies in Wakefield, MA (Aug 2022 Review)

The Cost and Benefits of Solar in Wakefield

Solar panels run off a free energy source — the sun — but before you can take advantage of this you will first need to pay to install your panels. The overall price and potential savings vary depending on some key factors such as:

• Choice of solar panels: The kind of solar panels you choose will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also save you more money over the lifetime of your system. If space isn't a constraint for your project, you can opt for a higher number of more affordable panels.
• Energy consumption: Installing solar panels may be a high-cost option for homes that don't need a good amount of energy a month.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 26% of your total installation cost, your local government may offer additional tax exemptions, credits or rebates that can help you save even more. Aside from incentives, you can save an average of $21,000 over 20 years with your solar system, too.
• Your home's power bills: With fairly high monthly electric bills in Wakefield, you could save about $970 a year with solar.

Solar is a profitable investment for most homeowners. You can produce your own power instead of paying for it from a utility company and take advantage of solar tax credits and rebates, all while helping protect the Earth.

Solar Incentives in Wakefield

Although solar power is typically a big investment, it can save you a substantial amount of money over the lifespan of your solar panels due to reduced energy bills and government incentives. These incentives mostly include cash rebates, tax benefits and/or performance-based incentives. They can reduce how much you pay for going solar by 26 to 50% in some cases. The table below shows you the incentives you can find in Wakefield.

Environmental Impact of Switching to Solar in Wakefield

One of the reasons so many people are considering installing solar panels is to help bring down their environmental impact. But you may be wondering — how much exactly can you help by making the switch to solar? As stated by the EPA, electricity production is the second greatest source of greenhouse gas emissions and about 62% of our electricity comes from burning fossil fuels. Using solar power can help lower that statistic in a city like Wakefield that is responsible for a fair amount of carbon dioxide emissions each year. In fact, if you install solar panels, you could look forward to lowering your carbon dioxide emissions by about 40 pounds each year. Since energy from the sun is abundant and makes electricity without CO2 emissions, making the switch to solar power is one easy step you can take to help protect the planet.