14 Best Solar Companies in Monroe, MI (Feb 2023 Review)

The Cost and Benefits of Solar in Monroe

For the majority of homeowners, whether or not to invest in solar panels comes down to the cost. Some significant things that determine the upfront cost and potential savings over time include:

• Your power bills: This will dictate how much you can save. In Monroe, the average resident can save about $1,100 a year on their electricity bills.
• Energy consumption: Installing a solar system may be too steep of an investment for households that don't need too much energy each month.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 30% of your overall installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Excluding incentives, you can save an average of $17,000 over 20 years with your solar system, too.
• System size and type: Some models are more expensive than others, so the one you want to get can raise or lower your upfront cost. Plus, the more solar panels you need to get, the more it'll cost.

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

Solar Incentives in Monroe

Adopting solar power has plenty of wonderful benefits. Not only can it help preserve the planet, but you can also save a good amount of money on your installation with various government incentives. When you install solar panels on your house, you can take advatage of the federal tax credit, or ITC. This credit currently lets you lower your tax bill by 30% of the cost of your solar panels. Additionally, there are often some regional incentives that you can use to further save. Check out our article on solar incentives to find out what incentives you can take advantage of.

Environmental Impact of Switching to Solar in Monroe

Making the switch to solar power is a compelling way to do your part for a more eco-friendly future. A question many people might have in mind is how much can they really help the environment by switching to solar power anyway? Regardless of your location, you can help save the environment by switching to solar energy, but homes that consume lots of energy will have an even bigger impact. Because solar panels don't release greenhouse gas emissions into the atmosphere when generating electricity, they're a good swap for traditional energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 100 pounds each year. For people who want to help the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.