18 Best Solar Companies in Cherry Hill, NJ (Aug 2022 Review)

The Cost and Benefits of Solar in Cherry Hill

The cost of installing solar panels has decreased significantly over the past few years, but it's still a substantial investment for most homeowners. Some important things that impact the upfront cost and potential savings over time include:

• Your energy bills: This will dictate how much you can save. In Cherry Hill, the average resident can save about $750 a year on their electricity bills.
• Incentives: The federal solar investment tax credit, which everyone qualifies for, allows you to deduct 26% of the cost of your solar system installation from your federal taxes. Additionally, not including incentives, you can save about $15,000 over 20 years on your energy bills.
• Energy consumption: Installing solar panels may be too steep of an option for households that don't need too much energy per month.
• System size and type: Some models are more pricy than others, so the one you want to get can raise or lower your initial investment. Plus, the more solar panels you need to get, the more it'll cost.

Although a solar panel system costs a good chunk of money upfront, it can save you much more over time. The question of how much, though, depends on a number of factors, including the size of your house and your local electricity rates.

Solar Incentives in Cherry Hill

To increase solar panel installation and usage, federal and local governments — and even some utility companies — offer incentives to help make switching to solar power more economical and accessible. There are several federal, state and local rebates and tax credits that earn a decent amount of money back after installing solar panels. Check out the table below to learn what incentives are available to you.

Environmental Impact of Switching to Solar in Cherry Hill

If you're planning on adding solar panels to your home, one of the main reasons why may be to reduce your carbon dioxide emissions. A question many might be asking themselves is how much can they really help preserve the environment by going solar anyway? In Cherry Hill, where the energy generation could be cleaner, going solar can have a big effect on the planet since solar power has a lower carbon footprint. In fact, if you install solar panels, you could lower your carbon dioxide emissions by about 60 pounds each year. For homeowners who are concerned about the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.