15 Best Solar Companies in Medina, MN (Oct 2022 Review)

The Cost and Benefits of Solar in Medina

Solar panels are powered by a free energy source — the sun — but before you can take advantage of this you will need to pay to install your panels. There are several factors you should consider when trying to figure out costs and your potential savings, including:

• Your income and budget: This determines what model of solar panels you can purchase.
• Incentives: The federal solar investment tax credit currently allows you to reduce your taxes by 30% of the project cost. Your state may also have incentives and rebates that you can take advantage of. Additionally, you can save about $18,000 over 20 years on your utility bills, before factoring in incentives.
• Your power bills: This will influence your savings. In Medina, the average resident can save about $1,400 a year on their electricity bills.
• Your home's orientation toward the sun: This, and how your roof is set up, affects affect how much power your solar panels can make.

Though a solar panel system costs a sizable chunk of money upfront, it can save you thousands of dollars over the lifespan of your panels. The question of how much, though, depends on several factors, such as the kind of solar panels you get and your current power bills.

Solar Incentives in Medina

There are many reasons why you should switch to solar. One of them involves some government incentives that can save you money. When you install a solar panel system on your home, you can take advatage of the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. Additionally, there may often be some regional incentives that you can benefit from to further save. For comprehensive information about incentives that apply to you, check out the table below.

Environmental Impact of Switching to Solar in Medina

Installing solar panels is a powerful way to do your part for a greener future. Something many might be thinking about is how much can they really help the environment by going solar anyway? In a city like Medina where energy use is rather high, switching to solar energy is a fantastic plan for people who are worried about the state of the planet. Once you go solar, your carbon emissions can be lowered 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 reducing your carbon footprint.