15 Best Solar Companies in Norwood Young America, MN (Feb 2023 Review)

The Cost and Benefits of Solar in Norwood Young America

Even though solar panels can help save you a good amount of money on energy bills over time, it's important to know the startup costs. The overall price and potential savings vary depending on a few key factors such as:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 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 $18,000 over 20 years with your system, too.
• average energy usage: The more electricity your household uses on average and the higher your current electricity bills are, the more likely you'll benefit from making the switch to solar.
• The model of solar panels you have the money for: This is dependent on how much you're willing to invest upfront.
• Your household's power bills: Due to fairly high monthly electricity bills in Norwood Young America, you could save about $1,400 a year with solar.

Solar is a worthwhile investment for most homeowners. You can make your own electricity instead of paying for it from a utility company and benefit from solar incentives, all while helping preserve the environment.

Solar Incentives in Norwood Young America

To increase the number of homes and businesses that use solar power, incentives are offered by the government — and even some utility companies — to help make solar power more financially viable and accessible. You are eligible for the federal solar investment tax credit (ITC) for the tax year you turn on your a solar system. You can also potentially use the ITC with other state and city rebates and benefits. In our article on solar incentives, you can read about the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Norwood Young America

An important reason so many are considering going solar is to help lower their environmental impact. But how much can using solar energy instead of traditional energy actually affect the environment? The amount of energy you use is an important factor to consider. The more energy your household consumes, the greater your impact when you switch to solar energy. In fact, if you make the switch to solar power, you could lower your carbon dioxide emissions by about 90 pounds each year. As you can see, investing in solar has so many other perks outside of saving money. One of the main ones is that you can help save the planet too.