16 Best Solar Companies in Richfield, MN (Oct 2022 Review)

The Cost and Benefits of Solar in Richfield

For many readers, the decision of which solar company to hire depends on how much it'll cost. The overall price and potential savings vary depending on a few important factors such as:

• Incentives: The federal solar investment tax credit currently lets you lower your taxes by 30% of the project cost. Your state may also have various incentives that you can take advantage of. Additionally, you can save about $19,000 over 20 years on your utility bills, not including incentives.
• The model of solar panels you can afford: This is dependent on how much you're willing to spend upfront.
• average energy usage: The more energy your household uses on average and the larger your current energy bills are, the more money you could save by switching to solar.
• The amount of sunlight your home gets: Thanks to Richfield's relatively low amount of average daily sunlight, you might not see as many savings on your electricity bills.

Though a solar panel system costs a decent chunk of money upfront, it can save you a considerable amount over time. The question of how much, though, depends on several factors, such as the amount of daily direct sunlight available and your local electricity rates.

Solar Incentives in Richfield

If you're planning on switching to solar energy, various government incentives and state programs can drastically reduce the installation costs and speed up the return on your investment. On top of the federal solar investment tax credit, there are also some local incentives, which in almost all cases, can be claimed in addition to the federal incentive, so you get to save even more. For detailed information about incentives that apply to you, see the table below.

Environmental Impact of Switching to Solar in Richfield

There are many reasons to switch to solar energy, like saving on utility bills and helping to reduce your carbon footprint. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Richfield, though. If your household consumes a lot of energy, you can help the environment even more by switching to solar energy. Because solar panels don't release carbon dioxide emissions into the atmosphere when creating electricity, they're a good substitute for nonrenewable energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 90 pounds each year. Since solar energy is abundant and generates electricity without releasing carbon emissions, installing solar panels is one easy step you can take to help preserve the environment.