18 Best Solar Companies in Faribault, MN (Mar 2023 Review)

The Cost and Benefits of Solar in Faribault

Even though solar panels can save you money on energy over time, it's necessary to consider the upfront costs. The cost of solar and the savings it generates vary depending on some important factors such as:

• System size and type: Some models are more costly than others, so the one you want can raise or lower your upfront cost. Plus, the more solar panels you need to get, the more it'll cost.
• Your household's power bills: With fairly high monthly energy bills in Faribault, you could save about $1,400 a year with solar.
• How much electricity your household consumes: Homes that use lots of energy each month may need more solar panels and, therefore, be more costly, but will also save more on their energy bills over time.
• Incentives: Something that can make your solar project cost less 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 money on your utility bills, which can result in an average of $18,000 of savings over 20 years.

There are several good benefits of solar despite the initial cost of installation. It can help the planet and your finances. Additionally, it can increase the value of your home, resulting in even more benefits if you choose to sell your home later.

Solar Incentives in Faribault

One of the good things about installing a solar panel system is earning incentives from the government. There are several federal, state and local rebates and tax credits that can earn you some money back after installing a qualifying system. In our article on solar incentives, you can read about the incentives you qualify for in your area.

Environmental Impact of Switching to Solar in Faribault

There are a few main reasons why people want to invest in solar energy: for the good of their bank accounts and the planet. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Faribault, though. How much energy you use is a significant factor to think about. The more energy your home uses, the larger your impact when you go solar. In fact, if you install solar panels, you could lower your carbon dioxide emissions by about 90 pounds each year. Since solar energy is abundant and generates electricity without CO2 emissions, making the switch to solar power is one easy step you can take to help the planet.