11 Best Solar Companies in Hopkins, MN (Aug 2022 Review)

The Cost and Benefits of Solar in Hopkins

For many people, the decision of which solar company to hire depends on pricing. Some important things that influence the cost and possible savings include:

• Incentives: Something that can save you money on your solar project 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 a decent amount of money on your power bills, which can lead to an average of $19,000 of savings over 20 years.
• The cost of electricity in your area: If your local electricity rates are quite high, there's a good chance you'll see a higher return on your investment in solar panels. In Hopkins, you can save an average of $119 a month on your electricity bills.
• System size and type: Some models are more pricy than others, so the one you want to get can raise or lower your upfront cost. Plus, the more solar panels you need to get, the more it'll cost.
• Typical energy usage: The more energy your home uses on average and the steeper your current energy bills are, the more likely you'll benefit from switching to solar.

Although a solar panel system costs a good chunk of money upfront, it can save you a considerable amount over the lifespan of your panels. The question of how much, though, depends on several factors, like the kind of solar panels you get and incentives.

Solar Incentives in Hopkins

Although installing solar panels is typically a big investment, it can save you much money in the long term because of lower utility bills and government incentives. On top of the federal tax credit incentive, there are also some state- and city-level programs, which in most cases, stack with the federal incentive, so you get to save even more. In the table below, you can find out about the incentives you qualify for in your area.

Environmental Impact of Switching to Solar in Hopkins

One of the reasons so many people consider going solar is to help reduce their environmental impact. You may be asking yourself — how much does going solar help the environment anyway? Using renewable energy for electricity instead of using nonrenewable energy is a great way to reduce your carbon footprint if you want to help reduce Hopkins's large level of greenhouse gas emissions. If you go solar, your carbon emissions can be cut by about 90 pounds a year. For those who want to help the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.