17 Best Solar Companies in Bayonne, NJ (Jul 2022 Review)

The Cost and Benefits of Solar in Bayonne

The cost of putting up a solar panel system has decreased significantly over the past few years, but it's still a large investment for most homeowners. A few key factors that dictate the cost of installing a solar panel system on your home and how much money you could save over time are:

• How much energy you use: If your household regularly uses a lot of energy, you'll see more savings from going solar.
• Incentives: The federal solar investment tax credit currently lets you decrease your taxes by 26% of the project cost. Your state and even local utility companies may also have various incentives that you can benefit from. Additionally, you can save about $15,000 over 20 years on your utility bills, before factoring in incentives.
• Choice of solar panels: The kind of solar panels you choose will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also save you more money 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.
• Average daily sunlight: Since Bayonne gets a decent amount of average daily sunlight, your solar panels can generally generate enough energy to power your whole home, which affects how much your solar panels can save you on your electricity bills.

Because of solar panels decreasing in cost as well as various solar incentives, they are a solid investment for many homeowners.

Solar Incentives in Bayonne

Although a solar power system is typically a large investment, it can save you a significant amount of money over many years due to reduced utility bills and government incentives. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which allows you to claim 26% of how much your solar project cost on your tax return, lowering the amount of taxes you owe that year. In addition, there may be some local incentives you can benefit from too. Check out the table below to learn what incentives you can benefit from.

Environmental Impact of Switching to Solar in Bayonne

A lot of people want to do what they can to help save the environment, which in many cases is the prime motivation to install a solar system. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Bayonne, though. One thing to consider is your overall carbon footprint. For example, if you spend a lot of time on the road and have an electric vehicle, you can install solar panels on your home to power your EV and therefore help offset your carbon emissions. In fact, if you install solar panels, you could reduce your carbon dioxide emissions by about 60 pounds each year. For people who want to help the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.