18 Best Solar Companies in Chatham, NJ (Oct 2022 Review)

The Cost and Benefits of Solar in Chatham

We understand that for lots of homeowners, the decision to invest in solar depends on installation costs. A few important factors that influence how much it will cost to install a solar panel system on your home and how much it could save you over time include:

• Typical energy usage: The more energy your household uses on average and the steeper your current energy bills are, the more money you could save by switching to solar.
• The type of solar panels you can buy: This is dependent on your income and budget.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you deduct 30% of your total installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Not including incentives, you can save an average of $17,000 over 20 years with your system, too.
• How much you spend on energy: The average family in Chatham pays around $850 a year on home energy use alone, so you could be looking at that much in savings.

There are lots of wonderful benefits of solar despite the upfront cost of installation. It can help the environment and your wallet. Additionally, it can boost the value of your home, resulting in even more benefits if you choose to sell your home later.

Solar Incentives in Chatham

Since solar power is better for the environment than burning fossil fuels, there are various government incentives available to encourage people to make the switch. These incentives mostly take the form of cash rebates, tax benefits and/or performance-based incentives. They can lower how much you end up spending on installing solar panels by 26 to 50% in some cases. Take a look at the table below to learn what incentives you can take advantage of.

Environmental Impact of Switching to Solar in Chatham

Going solar can have a positive effect on the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Chatham, though. One thing you should keep in mind 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 adopt solar power, you could expect to reduce your carbon dioxide emissions by about 50 pounds each year. As you can see, investing in solar has so many other rewards apart from saving money. One of the primary ones is that you can help save the environment too.