14 Best Solar Companies in Elkton, MD (Mar 2023 Review)

The Cost and Benefits of Solar in Elkton

Solar panels run off a free energy source — the sun — but before you can take advantage of this you will need to pay to install your panels. There are a few factors you should take into consideration when trying to determine costs and your potential savings, such as:

• The kind of solar panels you want: Higher-efficiency panels are more costly, so that will influence your budget for your solar project.
• Your current energy bills: Solar panels can significantly lower, or entirely eradicate, your utility bills. In Elkton, you can save an average of $77 a month.
• Electricity consumption: The average household in Elkton uses a decent amount of, and therefore may save on their energy bills.
• Incentives: The federal solar investment tax credit, which can save you some money, allows you to deduct 30% of the cost of installing your solar panel system from your federal taxes. Plus, not including incentives, you can save about $16,000 over 20 years on your energy bills.

There are lots of great benefits of solar despite the initial cost of installation. It can help the Earth and your finances. Plus, it can increase the value of your home, giving you even more benefits if you want to sell your home later.

Solar Incentives in Elkton

Adopting solar power has lots of considerable benefits. Not only can it help preserve the Earth, but you can also save a decent amount of money on your installation with various government incentives. On top of the federal tax credit incentive, there are also some local incentives, which in most cases, stack with the federal incentive, so you can save even more. In our article on solar incentives, you can see the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Elkton

There are a few important reasons why people are considering solar energy: for the financial and environmental benefits. A question many people might have in mind is how much can they really help protect the environment by going solar anyway? One thing to keep in mind is your overall carbon footprint. For example, if you spend a lot of time on the road and have an electric vehicle, you can use solar energy for your home to power your EV and therefore help offset your carbon emissions. Because solar panels don't release CO2 emissions into the atmosphere when generating electricity, they're a good swap for nonrenewable energy sources. In fact, you could be looking at reducing your carbon dioxide emissions by about 60 pounds each year. If you want to do what you can for the environment, you'll no doubt get that there are many benefits of adopting solar energy other than just saving money on electricity. You can also help preserve the environment, which some would argue is worth more.