16 Best Solar Companies in Mount Olive, NC (Feb 2023 Review)

The Cost and Benefits of Solar in Mount Olive

The cost of putting up a solar panel system has decreased immensely over the past several years, but it's still a substantial investment for most homeowners. Some important factors that dictate how much it will cost to install solar panels on your home and how much money you could save over time include:

• Electricity consumption: The average household in Mount Olive uses a lot of energy, and therefore may see more savings on electricity bills than other places.
• Choice of solar panels: The kind of solar panels you want will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also lead to more savings over the lifetime of your system. If you don't need to maximize efficiency, you can go with a higher number of more affordable panels.
• Incentives: Tax-paying citizens who purchase and install a solar energy system this year can save 30% of their overall solar costs by taking advantage of the federal solar investment tax credit. You can also save about $18,000 on your energy bills over 20 years without incentives.
• Average daily sunlight: Since Mount Olive gets a decent amount of average daily sunlight, your solar panels can generally produce enough energy to power your whole home, which affects how much your electricity bills will be.

There are lots of good benefits of solar despite the upfront cost of installation. It can help the Earth and your bank account. In addition, it can raise the value of your home, resulting in even more benefits if you decide to sell your home later.

Solar Incentives in Mount Olive

If you're planning on making the switch to solar power, various government incentives and subsidies can drastically lower your project costs and expedite the return on your investment. These incentives mostly consist of cash rebates, tax benefits and/or solar renewable energy credits. They can lower the cost you pay for installing solar panels by 30%, upwards of 50% depending on your location. For detailed information about incentives for homeowners in Mount Olive, visit our our article on solar incentives.

Environmental Impact of Switching to Solar in Mount Olive

A lot of people want to do what they can to help the planet, which for many is the main motivation to install a solar system. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Mount Olive, though. If your household consumes lots of energy, you can impact the environment even more by switching to solar power. After you go solar, your carbon emissions can be cut by about 60 pounds a year. For homeowners who want to help the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.