11 Best Solar Companies in Durham, NC (Aug 2022 Review)

The Cost and Benefits of Solar in Durham

For lots of homeowners, whether or not to invest in solar panels comes down to the cost. The cost of solar and the savings it generates vary depending on a few important factors such as:

• The type of solar panels you have the money for: This hinges on what your budget is.
• Incentives: The federal solar investment tax credit currently allows you to decrease your taxes by 26% of the project cost. Your state and even local utility companies may also have incentives and rebates that you can benefit from. Plus, you can save about $18,000 over 20 years on your utility bills, not including incentives.
• Your home's orientation toward the sun: This, along with your roof configuration, affects affect how much power your solar panels can produce.
• Energy consumption: Installing solar panels may be too pricey an option for homes that don't need a good amount of energy a month.

As a result of the cost of solar panels being lower than before as well as local and federal solar incentives, they are a cost-effective investment for the majority of homeowners.

Solar Incentives in Durham

One of the good things about installing a solar panel system is receiving government incentives. No matter what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will allow you to claim 26% of how much your solar project cost when you file taxes, lowering the amount of taxes you owe that year. Plus, there may be some local incentives that can save you some extra money too. You can find out about the incentives you can use in the table below.

Environmental Impact of Switching to Solar in Durham

There are a few big reasons why people want to invest in solar energy: for the financial and environmental benefits. You may be curious — how much does making the switch do for the planet anyway? Switching to green energy for electricity instead of relying on nonrenewable energy sources is a good way to lower your carbon footprint if you're conscious of Durham's sizable level of greenhouse gas emissions. Because solar panels don't release greenhouse gas emissions into the atmosphere when producing electricity, they're a good alternative to traditional energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 60 pounds each year. If you want to do what you can for the environment, you'll no doubt get that there are many benefits of adopting solar energy other than just saving money on electricity. You can also help preserve the environment, which some would argue is more valuable.