12 Best Solar Companies in Luverne, MN (2023 Reviews)

The Cost and Benefits of Solar in Luverne

For the majority of homeowners, whether or not to invest in a solar energy system boils down to the cost. The installation cost is just one important factor you should consider when looking into getting solar panels. How much it'll cost and how much you can save depend on things such as:

• System size and type: Some models are more expensive than others, so the one you decide on can raise or lower your upfront cost. Plus, the more solar panels you need to buy, the more it'll cost.
• Typical energy usage: The more power your household consumes on average and the greater your current power bills are, the more likely you'll benefit from switching to solar.
• Your power bills: This will impact how much money you might save. In Luverne, the average homeowner can save about $1,100 a year on their electricity bills.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you deduct 30% of your overall installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Excluding incentives, you can save an average of $15,000 over 20 years with your solar system, too.

So are solar panels worth it? Whether you're trying to lower your electric bills, carbon emissions or both, solar panels are a solid investment for many Luverne homeowners.

Solar Incentives in Luverne

If you're thinking about switching to solar energy, several government incentives and tax credits can drastically reduce your project costs and speed up the return on your investment. When you install a solar panel system on your home, you can claim the federal tax credit, or ITC. This credit currently lets you reduce your tax bill by 30% of the cost of your solar panels. In addition, there are often some regional incentives that you can use to further save. For comprehensive information about incentives that apply to you, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Luverne

Lots of people want to do their part for the environment, which for many is the main reason for installing a solar system. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Luverne, though. The more power you use, the better off the planet will be if you switch to solar as you won't need to use as much nonrenewable energy. In fact, if you install solar panels, you could expect to reduce your carbon dioxide emissions by about 90 pounds each year. Since solar energy is abundant and produces electricity without CO2 emissions, making the switch to solar power is one easy step you can take to help the environment.