11 Best Solar Companies in Farmington, NH (Mar 2023 Review)

The Cost and Benefits of Solar in Farmington

Even though solar panels can save you money on utility bills over time, it's necessary to know the upfront costs. Some important things that influence the upfront cost and potential savings over time include:

• How much energy you use: If your household uses a lot of energy, you'll benefit more from going solar.
• Incentives: The federal solar investment tax credit currently lets you decrease your taxes by 30% of the project cost. Your state and even local utility companies may also have various incentives that you can take advantage of. Plus, you can save about $21,000 over 20 years on your utility bills, before factoring in incentives.
• How much energy costs for you: The typical household in Farmington shells out around $1,100 a year on power alone, so you could end up with that much in savings.
• The kind of solar panels you can purchase: This hinges on your income and budget.

Although 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 a number of factors, such as the amount of daily direct sunlight available and your energy consumption.

Solar Incentives in Farmington

Although solar power is typically a large investment, it can save you a significant amount of money over many years due to smaller energy bills and government incentives. When you install a solar panel system, you can take advatage of the federal tax credit, or ITC. This credit currently lowers your tax bill by 30% of the cost of your solar panels. Plus, there are often some state and city incentives that you can benefit from to further save. Take a look at our article on solar incentives to see what incentives you can take advantage of.

Environmental Impact of Switching to Solar in Farmington

Many want to do their part to help save the planet, which often is the chief reason for installing solar panels. Something many people might be asking themselves is how much can they really help save the environment by switching to solar power anyway? For homeowners and business owners who care about the environment, switching to solar power is a straightforward choice, especially since Farmington produces a fair amount of carbon dioxide emissions from its energy generation. In fact, if you install solar panels, you could expect to reduce your carbon dioxide emissions by about 40 pounds each year. Since solar power is renewable and produces electricity without CO2 emissions, making the switch to solar power is one easy step you can take to help preserve the planet.