14 Best Solar Companies in Hanover, MN (Mar 2023 Review)

The Cost and Benefits of Solar in Hanover

Solar panels are powered by a free energy source — the sun — but to take advantage of this you will need to pay to install your panels. Some significant things that determine the cost and possible savings include:

• Incentives: Tax-paying citizens who purchase and install a solar system this year can save 30% of their installation costs by using the federal solar investment tax credit. You can also save about $18,000 on your utility bills over 20 years without incentives.
• How much power your household consumes: Homes that need lots of electricity each month may call for more solar panels and, consequently, more upfront cost, but will also benefit more over time.
• Your current electric bills: Solar panels can greatly reduce, or entirely eradicate, your utility bills. In Hanover, you can save an average of $114 a month.
• System size and type: Some models are more expensive than others, so the one you want can raise or lower your upfront cost. Plus, the more solar panels you need to buy, the more it'll cost.

Even though a solar panel system costs a decent chunk of money upfront, it can save you much more in the long term. The question of how much, though, depends on a number of factors, such as the angle of your roof and your current power bills.

Solar Incentives in Hanover

In an effort to increase solar panel installation and usage, federal and local governments — and even some utility companies — offer incentives to help make going solar more economical and accessible. There are quite a few federal, state and local rebates and tax credits that may earn you a decent amount of money back after buying a qualifying system. You can find out about the incentives you can take advantage of in our article on solar incentives

Environmental Impact of Switching to Solar in Hanover

There are many reasons to trade traditional energy for solar energy, like saving on utility bills and helping to lower your carbon footprint. You may be wondering — how much does making the switch help the environment anyway? The more power your family uses, the better off the planet will be from you switching to solar since you won't need to rely on traditional energy sources as much. In Hanover, the average person can reduce their carbon footprint by 90 pounds a year once they go solar. If you want to do your part for the environment, you'll most likely recognize that there are many good things about adopting solar power other than just saving money on electricity. You can also help preserve the environment, which some would argue is worth more.