14 Best Solar Companies in New Hope, MN (Feb 2023 Review)

The Cost and Benefits of Solar in New Hope

For many readers, the decision of which solar installer to hire depends on total costs. There are a few factors you should consider when determining how much it will cost and how much you can save, including:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 30% of your total installation cost, your local government may offer additional tax exemptions, credits or rebates that can help you save even more. Not including incentives, you can save an average of $19,000 over 20 years with your system, too.
• Your income and budget: This affects what type of solar panels you can get.
• average energy usage: The more power your home consumes on average and the higher your current power bills are, the more likely you'll benefit from going solar.
• The amount of sunlight your area gets: Due to New Hope's relatively low amount of average daily sunlight, you might not see as many savings on your energy bills.

Thanks to solar panels now being cheaper than ever as well as several solar incentives, they are a solid investment for most homeowners.

Solar Incentives in New Hope

Since solar power is better for the environment than burning fossil fuels, there are several government incentives in place to encourage people to make the switch. When you install a solar panel system on your house, you become eligible to 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 may often be some local incentives that you can take advantage of to further cut back on the cost of solar of solar panels. Our article on solar incentives goes over more detailed information on the incentives you can benefit from in New Hope.

Environmental Impact of Switching to Solar in New Hope

If you're considering adding solar panels to your home, one of the major reasons why may be to reduce your carbon dioxide emissions. You may be asking yourself — how much does going solar help the planet anyway? Your energy usage is an important factor to think about. The more electricity your household consumes, the bigger your impact when you make the switch to solar power. While solar panel manufacturing emits carbon dioxide, the panels make up for it by significantly decreasing the amount of CO2 you would have released if you still used traditional energy. In New Hope, you can reduce your carbon footprint by 90 pounds a year with solar panels. For people who are concerned about the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.