11 Best Solar Companies in Elk River, MN (Feb 2023 Review)

The Cost and Benefits of Solar in Elk River

We understand that for many homeowners, the choice to invest in solar highly depends on installation costs. The installation cost is just one important factor you should consider when looking into getting solar panels. How much it'll cost and how much you can save depend on things such as:

• Your income and budget: This guides what type of solar panels you can buy.
• How much energy your home consumes: Homes that need plenty of energy each month may require more solar panels and, consequently, be more expensive, but will also save more on their energy bills over time.
• Your household's power bills: Based on the fairly high monthly electricity bills in Elk River, you could save about $1,400 a year with solar.
• Incentives: Those who buy and install a solar system this year can save 30% of their total solar spend by using the federal solar investment tax credit. You can also save about $18,000 on your energy bills over 20 years not including incentives.

Though a solar panel system costs a good chunk of money upfront, it can save you a considerable amount in the long term. The question of how much, though, depends on several factors, like the kind of solar panels you get and your energy consumption.

Solar Incentives in Elk River

One of the benefits of installing a solar panel system is receiving incentives from the government. These incentives mostly take the form of cash rebates, tax benefits and/or performance-based incentives. They can cut how much you pay for installing solar panels by 30%, upwards of 50% depending on your location. For comprehensive information about incentives that apply to you, check out our our article on solar incentives.

Environmental Impact of Switching to Solar in Elk River

There are many reasons to switch to solar power, like saving some money on utility bills and helping to reduce your carbon footprint. But how much can installing solar panels actually help the environment? One thing to keep in mind is your overall carbon footprint. For example, if you have a long commute time and have an electric vehicle, you can use solar energy for your home to power your EV and therefore help offset your carbon emissions. Because solar panels don't release carbon dioxide emissions into the atmosphere when producing electricity, they're a good trade for nonrenewable energy sources. In fact, you could be looking at reducing your carbon dioxide emissions by about 90 pounds each year. As you can see, trading traditional energy for solar has so many other perks besides saving money. One of the main ones is that you can help save the environment too.