11 Best Solar Companies in Elk River, MN (Oct 2022 Review)

The Cost and Benefits of Solar in Elk River

For many homeowners, whether or not you should invest in a solar energy system comes down to the cost. Some key things that determine the upfront cost and potential savings over time include:

• Your energy bills: This will determine how much money you might save. In Elk River, the average resident can save about $1,400 a year on their electricity bills.
• Your income and budget: This shapes what type of solar panels you can get.
• How much power your household consumes: Households that use a lot of power each month may call for more solar panels and, therefore, be more expensive, but will also benefit more over time.
• Incentives: The federal solar investment tax credit, which can save you some money, lets you deduct 30% of the cost of your solar system installation from your taxes. Plus, not including incentives, you can save about $18,000 over 20 years on your energy bills.

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

Solar Incentives in Elk River

If you're thinking about making the switch to solar energy, a number of government incentives and solar rebates can dramatically reduce the installation costs and speed up the return on your investment. On top of the federal tax credit incentive, there are also some local incentives, which in the majority of cases, stack with the federal incentive, so you can save even more. The table below gives you an idea of the incentives you can take advantage of in Elk River.

Environmental Impact of Switching to Solar in Elk River

Making the switch to solar power is a powerful way to do what you can for a more environmentally-friendly future. But how much can installing solar panels actually help the environment? In a city like Elk River where commute times can be very long, installing solar panels can help help reduce the carbon footprint of driving a lot. Even though solar panel manufacturing emits carbon dioxide, the panels make up for it by greatly reducing the amount of CO2 you would have been responsible for if you still used traditional energy. In Elk River, you can reduce your carbon footprint by 90 pounds a year with solar panels. If you care about the environment, you'll most likely understand that there are many good things about adopting solar energy other than just saving money on bills. You can also help protect the environment, which some would argue is more valuable.