15 Best Solar Companies in Corcoran, MN (Feb 2023 Review)

The Cost and Benefits of Solar in Corcoran

For most homeowners, whether or not to invest in solar panels comes down to the cost. Some key things that affect the cost and possible savings include:

• Incentives: Something that can save you money on your solar project is the solar investment tax credit (ITC), which is a tax credit that's equal to a percentage of the project cost. You can also save a decent amount of money on your power bills, which can generate an average of $18,000 of savings over 20 years.
• Your energy consumption: If your family regularly uses a lot of energy, you'll benefit more from installing solar panels.
• Choice of solar panels: The kind of solar panels you buy will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also save you more money over the lifetime of your system. If space isn't a constraint for your project, you can opt for a higher number of more affordable panels.
• Your power bills: This will affect your savings. In Corcoran, the average resident can save about $1,400 a year on their electricity bills.

There are many good benefits of solar despite the upfront cost of installation. It can help the environment and your wallet. Plus, it can boost the value of your home, giving you even more benefits if you choose to sell your home later.

Solar Incentives in Corcoran

To increase solar panel installation and usage, incentives are offered by the government — and even some utility companies — to help make solar more economically viable and accessible. On top of the federal solar investment tax credit, there are also some local incentives, which in most cases, can be claimed in addition to the federal incentive, so you can save even more. For comprehensive information about incentives for homeowners in Corcoran, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Corcoran

If you want to add solar panels to your home, one of the primary reasons why may be to reduce your greenhouse gas emissions. You may be curious — how much does going solar do for the environment anyway? No matter where you are, you can help save the planet by switching to solar energy, but homes that use a lot of energy will have a bigger impact. Since solar panels don't release carbon dioxide emissions into the atmosphere when creating electricity, they're a good substitute for nonrenewable energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 90 pounds each year. As you can see, trading traditional energy for solar has so many other rewards apart from saving money. One of the major ones is that you can help save the Earth too.