12 Best Solar Companies in Lake Elmo, MN (Oct 2022 Review)

The Cost and Benefits of Solar in Lake Elmo

While solar panels can save you a decent chunk of change on utility bills over time, it's necessary to consider the startup costs. The installation cost is just one important factor you should keep in mind when looking into getting 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 can save you some money, lets you deduct 30% of the cost of your solar system installation from your federal taxes. Plus, not including incentives, you can save about $19,000 over 20 years on your energy bills.
• Your current energy bills: Solar panels can substantially decrease, or completely eliminate, your utility bills. In Lake Elmo, you can save an average of $121 a month.
• Your home's orientation toward the sun: This, and your roof configuration, affects affect how much electricity your solar panels can produce.
• The kind of solar panels you have the money for: This depends on what your budget is.

So is a solar panel system worth it? Whether you're trying to decrease your energy bills, carbon emissions or both, solar panels are a good investment for many Lake Elmo homeowners.

Solar Incentives in Lake Elmo

Since solar power is more sustainable than burning fossil fuels, there are quite a few government incentives available to encourage people to make the switch. You can qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your solar panels. You can also possibly stack the ITC with other state and city rebates and benefits. You can find out about the incentives you can use in the table below.

Environmental Impact of Switching to Solar in Lake Elmo

Many want to do what they can for the planet, which often is the main reason for installing solar panels. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Lake Elmo, though. If your family uses a lot of energy, you can have an even greater impact on the planet by switching to solar power. In fact, if you make the switch to solar power, you could look forward to lowering your carbon dioxide emissions by about 90 pounds each year. Since solar power is abundant and generates electricity without releasing carbon emissions, making the switch to solar power is one easy step you can take to help preserve the environment.