11 Best Solar Companies in Parkville, MD (Oct 2022 Review)

The Cost and Benefits of Solar in Parkville

Even though solar panels can save you money on utility bills over time, it's necessary to know the startup costs. The overall price and potential savings vary depending on a few important factors such as:

• The cost of energy for you: If your local utility rates are high, there's a good chance you'll get a higher return on your investment in solar panels. In Parkville, you can save an average of $70 a month on your electricity bills.
• Your energy consumption: If your home regularly uses a lot of energy, you'll reap more rewards from installing solar panels.
• Average daily sunlight: Since Parkville gets a decent amount of average daily sunlight, your solar panels can generally generate enough energy to power your whole home, which impacts how much you can save on your energy bills.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total installation cost, your state or local government may offer additional tax exemptions, credits or rebates that can help you save even more. Excluding incentives, you can save an average of $14,000 over the first 20 years with your solar system, too.

Although 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, including the angle of your roof and your local electricity rates.

Solar Incentives in Parkville

One of the good things about installing a solar panel system is receiving federal and potentially state incentives. When you install solar panels on your home, you can take advatage of the federal tax credit, or ITC. This credit currently lets you reduce your tax bill by 30% of the cost of your solar panels. Additionally, there may often be some regional incentives that you can take advantage of to further cut back on the cost of solar of solar panels. Take a look at the table below to find out what incentives you can benefit from.

Environmental Impact of Switching to Solar in Parkville

There are lots of reasons to make the switch to solar energy, like saving some money on utility bills and helping to reduce your carbon footprint. But you may be curious — how much exactly can you help the environment by going solar? As reported by the EPA, electricity generation is the second greatest source of greenhouse gas emissions and about 62% of our electricity is produced by burning fossil fuels. Installing solar panels and switching to renewable energy can help bring down that number in a city like Parkville that generates a fair amount of carbon dioxide emissions each year. Once you go solar, your carbon footprint can be lowered by about 60 pounds each year. As you can see, trading traditional energy for solar has so many other perks beyond saving money. One of the primary ones is that you can help save the environment too.