14 Best Solar Companies in Oxford, NC (Jul 2022 Review)

The Cost and Benefits of Solar in Oxford

For the majority of homeowners, the decision to invest in a solar energy system depends the most on the cost. There are several factors you should take into consideration when determining how much it will cost and how much you can save, including:

• System size and type: Some models are more expensive than others, so the one you get can raise or lower your initial investment. Plus, the more solar panels you need to buy, the more it'll cost.
• The amount of sunlight your rooftop gets: Due to Oxford's high amount of average daily sunlight, you should be able to save a decent amount on your electric bills.
• Electricity consumption: The average household in Oxford uses a lot of energy, and consequently may see more savings on electricity bills than other places.
• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, allows you to deduct 26% of the cost of installing your solar panel system from your federal taxes. In addition, not including incentives, you can save about $19,000 over 20 years on your energy bills.

So is a solar panel system worth it? Whether you'd like to lower your energy bills, carbon dioxide emissions or both, solar panels are a great investment for many Oxford homeowners.

Solar Incentives in Oxford

Adopting solar power has plenty of considerable benefits. Not only can it help protect the Earth, but you can also save a good amount of money on your installation with various 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 your project costs on your tax return, lowering the amount of taxes you owe that year. In addition, there may be some state and city incentives that stack with the ITC too. Take a look at the table below to find out what incentives are available to you.

Environmental Impact of Switching to Solar in Oxford

Swapping traditional energy for solar is a profound way to do your part for a more sustainable future. A question many homeowners might have in mind is how much can they really help the environment by going solar anyway? In Oxford, where the energy generation can be rather dirty, going solar can have a huge impact on the environment since solar power has a lower carbon footprint. Once you go solar, your carbon footprint can be lowered by about 60 pounds each year. As you can see, trading traditional energy for solar has so many other perks outside of saving money. One of the major ones is that you can help save the Earth too.