18 Best Solar Companies in Wenham, MA (Aug 2022 Review)

The Cost and Benefits of Solar in Wenham

The cost of putting up solar panels has dropped immensely in the past several years, but it's still a significant investment for most homeowners. Some main factors that determine how much it will cost to install a solar panel system on your home and how much it could save you over time include:

• Incentives: Those who purchase and install a solar system this year can save 26% of their total solar spend by using the federal solar investment tax credit. You can also save about $23,000 on your electricity bills over 20 years excluding incentives.
• Your household's power bills: With fairly high monthly electric bills in Wenham, you could save about $1,000 a year with solar.
• The type and model of solar panels you want: Some are more highly priced, so that will influence your budget for your solar project.
• How much electricity your home consumes: Households that use a lot of electricity each month may need more solar panels and, therefore, be more expensive, but will also save more on their energy bills over time.

Though a solar panel system costs a decent chunk of money upfront, it can save you a considerable amount over time. The question of how much, though, depends on several factors, such as the size of your solar panel system and your current power bills.

Solar Incentives in Wenham

One of the great things about installing a solar panel system is receiving incentives from the government. When you install solar panels on your house, you can take advatage of the federal tax credit, or ITC. This credit currently lets you lower your tax bill by 26% of the cost of your solar panels. Plus, there may often be some local incentives that you can benefit from to further save. Take a look at the table below to see what incentives you can take advantage of.

Environmental Impact of Switching to Solar in Wenham

One of the most compelling reasons to tap into solar energy is to minimize your reliance on traditional energy sources like burning fossil fuels, which are damaging for the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Wenham, though. An important thing to be mindful of is your overall carbon footprint. For example, if you have a long commute, your footprint may be greater, so switching to solar energy for your house can help offset that. Since solar panels don't release CO2 emissions into the atmosphere when creating electricity, they're a good trade for traditional energy sources. In fact, you could look forward to lowering your carbon dioxide emissions by about 40 pounds each year. As you can see, investing in solar has so many other rewards apart from saving money. One of the most important ones is that you can help save the planet too.