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

The Cost and Benefits of Solar in Independence

Solar panels run off a free energy source — the sun — but to take advantage of this you must first pay to set up your system. The installation cost is just one important factor you should take into account when looking into installing solar panels. How much it'll cost and how much you can save depend on things including:

• Incentives: The federal solar investment tax credit, which everyone qualifies for, allows you to deduct 30% of the cost of your solar system installation from your taxes. Additionally, not including incentives, you can save about $18,000 over 20 years on your energy bills.
• Your income and budget: This affects what model of solar panels you can afford.
• Your current energy bills: Solar panels can significantly reduce, or totally eliminate, your utility bills. In Independence, you can save an average of $111 a month.
• Your city: This influences how much sunlight your roof receives, which helps determine how many panels you need.

So are solar panels worth it? Whether you're trying to decrease your energy bills, greenhouse gas emissions or both, solar panels are a solid investment for many Independence homeowners.

Solar Incentives in Independence

Although installing solar panels is typically a $15,000 to $25,000 investment, it can save you a considerable amount of money in the long term due to smaller utility bills and government incentives. When you install solar panels, you become eligible to claim the federal tax credit, or ITC. This credit currently lowers your tax bill by 30% of the cost of your solar panels. Additionally, there are often some regional incentives that you can benefit from to further save. You can find out about the incentives available to you in the table below.

Environmental Impact of Switching to Solar in Independence

There are lots of reasons to make the switch to solar energy, like saving some money on utility bills and helping to reduce your carbon footprint. You may be asking yourself — how much does making the switch help the environment anyway? Everyone can help save the environment by switching to solar energy, but homes that use a lot of energy will have an even greater impact. In fact, if you install solar panels, you could be looking at reducing your carbon dioxide emissions by about 90 pounds each year. For people who care about the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.