15 Best Solar Companies in Deptford, NJ (Aug 2022 Review)

The Cost and Benefits of Solar in Deptford

Solar panels are powered by a free energy source — the sun — but to take advantage of this you must first pay to set up your panels. The installation cost is just one important factor you should take into account when looking into getting solar panels. How much it'll cost and how much you can save depend on things including:

• Incentives: Tax-paying citizens who buy and install a solar system this year can save 26% of their overall solar costs by using the federal solar investment tax credit. You can also save about $16,000 on your utility bills over 20 years excluding incentives.
• The model of solar panels you want to get: Some have higher prices, so that will shape your budget for your solar project.
• Electricity consumption: The average home in Deptford doesn't use much energy, and as a result may not see as many savings on their power bills.
• The cost of electricity in your area: If your local electricity rates are high, there's a better chance you'll see a higher return on your investment in a solar system. In Deptford, you can save an average of $67 a month on your electricity bills.

As a result of the cost of solar panels being lower than before as well as local and federal solar incentives, they are a worthwhile investment for many homeowners.

Solar Incentives in Deptford

There are several reasons why you should switch to solar. One of them includes some government incentives that can save you money. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which allows you to claim 26% of your project costs on your tax return, lowering the amount of taxes you owe that year. Plus, there may be some state and city incentives that can save you some extra money too. Take a look at the table below to find out what incentives you can benefit from.

Environmental Impact of Switching to Solar in Deptford

Switching to solar energy can have a beneficial impact on the environment. You may be asking yourself — how much do solar panels do for the environment anyway? The average person has a substantial carbon footprint. Between their car, which releases over 10,000 pounds of carbon dioxide emissions every year, and energy for their home, it can be overwhelming to think about what to do. Installing solar panels is a simple thing you can do to help. Since solar panels don't release carbon dioxide emissions into the atmosphere when creating electricity, they're a good swap for nonrenewable energy sources. In fact, you could look forward to lowering your carbon dioxide emissions by about 60 pounds each year. For homeowners who want to help the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.