15 Best Solar Companies in Salem, NH (Jun 2022 Review)

The Cost and Benefits of Solar in Salem

While solar panels can save you a good amount of money on power bills over time, it's necessary to know the upfront costs. Some key things that affect the upfront cost and potential savings over time include:

• 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. Plus, not including incentives, you can save about $19,000 over 20 years on your energy bills.
• Choice of solar panels: The type of solar panels you buy will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also lead to more savings over the lifetime of your system. If space isn't a constraint for your project, you can go with a higher number of more affordable panels.
• Your energy bills: This will impact how much money you might save. In Salem, the average homeowner can save about $950 a year on their electricity bills.
• average energy usage: The more electricity your home consumes on average and the larger your current electricity bills are, the more benefits you'll see from switching to solar.

Even though a solar panel system costs a sizable chunk of money upfront, it can save you thousands of dollars over the lifespan of your panels. The question of how much, though, depends on several factors, such as the kind of solar panels you get and your energy consumption.

Solar Incentives in Salem

Although a solar power system is typically a large investment, it can save you a substantial amount of money over the lifespan of your solar panels because of lower power bills and government incentives. These incentives usually include cash rebates, tax benefits and/or solar renewable energy credits. They can cut how much you end up spending on going solar by 26 to 50% in some cases. For more information about local incentives, see the table below.

Environmental Impact of Switching to Solar in Salem

There are a few key reasons why homeowners are interested in solar energy: for the financial and environmental benefits. But you may be curious — how much exactly can you help by using solar power? An important thing to keep in mind is your overall carbon footprint. For example, if you have a long commute, your footprint may be larger, so adopting solar power for your home can help offset that. In Salem, the average resident can lower their carbon footprint by 40 pounds a year once they go solar. Since energy from the sun is renewable and makes electricity without CO2 emissions, installing solar panels is one easy step you can take to help the environment.