11 Best Solar Companies in Hampstead, MD (Mar 2023 Review)

The Cost and Benefits of Solar in Hampstead

For lots of homeowners, whether or not you should invest in a solar energy system depends the most on the cost. The cost and possible savings vary depending on some important factors such as:

• System size and type: Some models are more expensive 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: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your overall installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Aside from incentives, you can save an average of $14,000 over 20 years with your system, too.
• The amount of sunlight your rooftop gets: Due to Hampstead's high amount of average daily sunlight, you should be able to save a decent amount on your electric bills.
• Your energy bills: This will influence how much you can save. In Hampstead, the average homeowner can save about $840 a year on their electricity bills.

So is buying solar panels worth it? Whether you hope to reduce your electric bills, carbon emissions or both, solar panels are a good investment for many Hampstead homeowners.

Solar Incentives in Hampstead

If you're thinking about making the switch to solar power, a variety of government incentives and subsidies can dramatically lower your project costs and expedite the return on your investment. When you install solar panels on your house, you can claim the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. Plus, there are often some local incentives that you can use to further save. Check out our article on solar incentives to see what incentives are available to you.

Environmental Impact of Switching to Solar in Hampstead

One of the best reasons to adopt solar power is to decrease your reliance on nonrenewable energy sources like burning fossil fuels, which are destructive for the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Hampstead, though. One thing you should keep in mind is your overall carbon footprint. For example, if you have a long commute time and have an electric vehicle, you can use solar energy for your home to power your EV and therefore help offset your carbon emissions. Although solar panel production releases carbon dioxide emissions, the panels make up for it by significantly decreasing the amount of CO2 you would have released if you still used nonrenewable energy. In Hampstead, you can reduce your carbon footprint by 60 pounds a year with solar panels. As you can see, using solar power has so many other benefits outside of saving money. One of the main ones is that you can help save the environment too.