14 Best Solar Companies in Lincoln Park, MI (2023 Reviews)

The Cost and Benefits of Solar in Lincoln Park

For a lot of homeowners, whether or not to invest in a solar energy system depends the most on the cost. A few main factors that dictate how much it will cost to install a solar panel system on your home and how much money you could save over time include:

• 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 local government may offer additional tax exemptions, credits or rebates that can help you save even more. Aside from incentives, you can save an average of $17,000 over the first 20 years with your system, too.
• System size and type: Some models are more pricy than others, so the one you want to get can raise or lower your initial investment. Plus, the more solar panels you need to get, the more it'll cost.
• How much sunlight your roof gets: If your roof doesn't get a lot of direct sunlight, your solar panels won't be able to generate as much energy, which will leave you with lower savings on power bills than someone with a roof that gets lots of sunlight.
• The cost of electricity in your area: If your local utility rates are quite high, there's a better chance you'll end up with a higher return on your investment in solar panels. In Lincoln Park, you can save an average of $92 a month on your electricity bills.

Due to the cost of solar panels being lower than before as well as various solar incentives, they are a sound investment for most homeowners.

Solar Incentives in Lincoln Park

To increase the number of homes and businesses that use solar power, federal, state and local governments — and even some utility companies — offer incentives to help make solar more economically viable and accessible. In addition to the federal tax credit incentive, there are also some state- and city-level benefits, which in almost all cases, can be claimed in addition to the federal incentive, so you can save even more. Check out our article on solar incentives to learn what incentives you can take advantage of.

Environmental Impact of Switching to Solar in Lincoln Park

Many want to do their part for the environment, which for many is the main motivation to install a solar system. But you may be wondering — how much exactly can you help by making the switch to solar? If your home uses lots of energy, you can impact the environment even more by switching to solar energy. In Lincoln Park, the average homeowner can reduce their carbon footprint by 100 pounds a year once they go solar. For people who care about the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.