16 Best Solar Companies in East Hanover, NJ (Sep 2022 Review)

The Cost and Benefits of Solar in East Hanover

Although solar panels can help save you money on electricity bills over time, it's necessary to consider the upfront costs. 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 such as:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total installation cost, your local government may offer additional tax exemptions, credits or rebates that can help you save even more. Not including incentives, you can save an average of $14,000 over 20 years with your solar panels, too.
• How much power your household needs: If your household regularly uses a lot of energy, you'll reap more rewards from going solar.
• Choice of solar panels: The kind of solar panels you get 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 you don't need to maximize efficiency, you can go with a higher number of more affordable panels.
• Your current electric bills: Solar panels can dramatically reduce, or totally get rid of, your utility bills. In East Hanover, you can save an average of $57 a month.

As a result of solar panels now being cheaper than ever as well as local and federal solar incentives, they are a cost-effective investment for most homeowners.

Solar Incentives in East Hanover

One of the good things about installing a solar panel system is earning federal and potentially state incentives. There are several federal, state and local rebates and tax credits that may earn you some money in return after paying for a solar panel system. For detailed information about incentives that apply to you, see the table below.

Environmental Impact of Switching to Solar in East Hanover

Installing solar panels can have a beneficial effect on the environment. A question many might be wondering about is how much can they really help the environment by going solar anyway? One thing that can dramatically affect your carbon footprint is your commute time and how much you drive generally. If you install solar panels and drive an electric car, you can greatly cut back on your carbon dioxide emissions by charging your car at home. While solar panel manufacturing emits carbon dioxide, the panels make up for it by significantly reducing the amount of CO2 you would have produced if you still used traditional energy. In East Hanover, you can reduce your carbon footprint by 50 pounds a year with solar panels. As you can see, using solar power has so many other perks outside of saving money. One of the primary ones is that you can help save the environment too.