17 Best Solar Companies in Cambridge, MN (Oct 2022 Review)

The Cost and Benefits of Solar in Cambridge

We understand that for many homeowners, the choice to invest in solar depends on installation costs. The cost of solar and the savings it generates vary depending on some key factors such as:

• 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. Not including incentives, you can save an average of $20,000 over 20 years with your solar panels, too.
• Typical energy usage: The more electricity your home consumes on average and the larger your current electricity bills are, the more money you could save by going solar.
• Your income and budget: This guides what model of solar panels you can get.
• Where your home is: This affects how much sunlight your roof gets, which helps determine how many panels you need.

There are lots of wonderful benefits of solar even with the initial cost of installation. It can help the planet and your finances. Plus, it can boost the value of your home, resulting in even more benefits if you decide to sell your home later.

Solar Incentives in Cambridge

Although a solar power system is typically a big investment, it can save you a lot of money over time due to reduced power bills and government incentives. When you install solar panels on your home, you can claim the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. Plus, there are often some regional incentives that you can benefit from to further save. In the table below, you can read about the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Cambridge

There are many reasons to trade traditional energy for solar energy, like saving on utility bills and helping to reduce your carbon footprint. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Cambridge, though. How much energy you use is a significant factor to consider. The more power your home uses, the greater your impact when you switch to solar energy. Although solar panel manufacturing releases carbon dioxide emissions, the panels make up for it by greatly decreasing the amount of CO2 you would have produced if you still used traditional energy. In Cambridge, you can reduce your carbon footprint by 90 pounds a year with solar panels. Since solar energy is abundant and generates electricity without a carbon footprint, making the switch to solar power is one easy step you can take to help the environment.