13 Best Solar Companies in Grenada, MS (Feb 2023 Review)

The Cost and Benefits of Solar in Grenada

While solar panels can help save you a good amount of money on energy bills over time, it's important to consider the startup costs. There are a few factors you should take into consideration when trying to figure out how much it will cost and how much you can save, including:

• The model of solar panels you want: More high-tech panels are more highly priced, so that will influence your budget for your solar project.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total installation cost, your state or local government may offer additional tax exemptions, credits or rebates that can help you save even more. Excluding incentives, you can save an average of $18,000 over the first 20 years with your solar panels, too.
• Energy consumption: Solar may be an expensive investment for homes that don't use too much energy each month.
• The amount of sunlight your roof gets: If your roof doesn't see much direct sunlight, your solar system won't be able to produce as much energy, which will leave you with lower savings on electric bills than a house with a roof that gets lots of sunlight.

There are several good benefits of solar despite the initial cost of installation. It can help the planet and your wallet. Additionally, it can raise the value of your home, resulting in even more benefits if you choose to sell your home later.

Solar Incentives in Grenada

Because solar power is better for the environment than burning fossil fuels, there are quite a few government incentives in place to encourage people to make the switch. On top of the federal tax credit incentive, there are also some state- and city-level incentives, which in most cases, can be claimed in addition to the federal incentive, so you can save even more. Our article on solar incentives goes over more detailed information on the incentives you can benefit from in Grenada.

Environmental Impact of Switching to Solar in Grenada

Replacing nonrenewable energy with solar power is a powerful way to do your part for a more environmentally-friendly future. But — how much exactly can you help the environment by using solar power? Your energy usage is a significant factor to keep in mind. The more energy you use, the larger your impact when you switch to solar energy. Since solar panels don't release greenhouse gas emissions into the atmosphere when generating 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. If you want to do your part for the environment, you'll no doubt understand that there are many benefits of adopting solar energy other than just saving money on bills. You can also help preserve the environment, which some would argue is priceless.