17 Best Solar Companies in Forest Lake, MN (Jul 2022 Review)

The Cost and Benefits of Solar in Forest Lake

Solar panels run off a free energy source — the sun — but before you can take advantage of this you first need to pay to set up your panels. The cost and possible savings vary depending on a few key factors such as:

• The kind of solar panels you want: More efficient panels are more costly, so that will determine your budget for your solar project.
• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, allows you to deduct 26% of the cost of your solar system installation from your federal taxes. Additionally, not including incentives, you can save about $20,000 over 20 years on your energy bills.
• How much energy your household consumes: Homes that need a lot of electricity each month may require more solar panels and, as a result, be more expensive, but will also enjoy more savings over time.
• Your city: This affects how much sunlight your roof receives, which helps determine how many panels you need.

So is installing solar panels worth it? Whether you hope to decrease your electric bills, carbon dioxide emissions or both, solar panels are a good investment for many Forest Lake homeowners.

Solar Incentives in Forest Lake

One of the great things about installing a solar panel system is earning incentives from the government. Everyone can take advantage of the federal Solar Investment Tax Credit (ITC), which lets you claim 26% of how much you paid for your solar installation on your tax return, lowering the amount of taxes you owe that year. In addition, there may be some state and city incentives that can save you some extra money too. The table below tells you about the incentives you can take advantage of in Forest Lake.

Environmental Impact of Switching to Solar in Forest Lake

Going solar can have a beneficial effect on the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Forest Lake, though. No matter where you are, you can help protect the planet by switching to solar energy, but homes that consume more energy will have an even greater impact. In Forest Lake, the average person can lower their carbon footprint by 90 pounds a year after going solar. If you care about the environment, you'll likely find 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 invaluable.