18 Best Solar Companies in Lexington Park, MD (Mar 2023 Review)

The Cost and Benefits of Solar in Lexington Park

Solar panels are powered by a free energy source — the sun — but before you can take advantage of this you must first pay to set up your system. The overall price and potential savings vary depending on a few key factors such as:

• The model of solar panels you can buy: This hinges on your income and budget.
• Incentives: Something that can save you money on your solar project is the solar investment tax credit (ITC), which is a tax credit that lets you deduct from your taxes a percentage of the project cost. You can also save on your power bills, which can lead to an average of $14,000 of savings over 20 years.
• How much you spend on energy: The average family in Lexington Park spends around $800 a year on electricity alone, so you could be looking at that much in savings.
• Energy consumption: Solar may be a high-cost option for homes that don't use a good amount of energy a month.

Thanks to solar panels decreasing in cost as well as several solar incentives, they are a cost-effective investment for most homeowners.

Solar Incentives in Lexington Park

If you're considering making the switch to solar power, a number of government incentives and tax credits can drastically bring down your project costs and expedite the return on your investment. On top of the federal tax credit incentive, there are also some state- and city-level benefits, which in most cases, stack with the federal incentive, so you get to save even more. In our article on solar incentives, you can read about the incentives you qualify for in your area.

Environmental Impact of Switching to Solar in Lexington Park

There are a few main reasons why homeowners want to invest in solar energy: for the good of their bank accounts and the planet. But — how much exactly can you help the environment by going solar? The more power your household uses, the better off the planet will be if you switch to solar since you won't need to burn as many fossil fuels. Since solar panels don't release CO2 emissions into the atmosphere when producing electricity, they're a good substitute for nonrenewable energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 60 pounds each year. As you can see, trading traditional energy for solar has so many other benefits beyond saving money. One of the primary ones is that you can help save the planet too.