15 Best Solar Companies in Farmington, MI (Jan 2023 Review)

The Cost and Benefits of Solar in Farmington

The cost of putting up a solar panel system has decreased greatly over the past several years, but it's still a significant investment for most homeowners. There are quite a few factors you should consider when trying to figure out how much it will cost and how much you can save, such as:

• Incentives: Those who purchase and install a solar energy system this year can save 30% of their total solar spend by using the federal solar investment tax credit. You can also save about $15,000 on your energy bills over 20 years without incentives.
• average energy usage: The more electricity your home uses on average and the larger your current electricity bills are, the more benefits you'll see from going solar.
• Your energy bills: This will influence how much money you might save. In Farmington, the average resident can save about $1,000 a year on their electricity bills.
• The type of solar panels you have the money for: This hinges on how much you're willing to invest upfront.

Because of solar panels now being cheaper than ever as well as local and federal solar incentives, they are a solid investment for many homeowners.

Solar Incentives in Farmington

Although a solar power system is typically a big investment, it can save you a lot of money over time due to reduced utility bills and government incentives. You qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your a solar panel system. You can also potentially pair the ITC with other state and city incentives. Our article on solar incentives goes over more detailed information on the incentives you can benefit from in Farmington.

Environmental Impact of Switching to Solar in Farmington

There are many reasons to trade traditional energy for solar energy, like saving money on electricity bills and helping to reduce your carbon footprint. You may be wondering — how much does making the switch help the planet anyway? If your household consumes lots of energy, you can impact the environment even more by switching to solar power. Though solar panel manufacturing releases carbon dioxide emissions, the panels make up for it by significantly reducing the amount of CO2 you would have released if you still used nonrenewable energy. In Farmington, you can reduce your carbon footprint by 100 pounds a year with solar panels. As you can see, using solar power has so many other benefits besides saving money. One of the primary ones is that you can help save the Earth too.