18 Best Solar Companies in Fanwood, NJ (Dec 2022 Review)

The Cost and Benefits of Solar in Fanwood

Solar panels are powered by a free energy source — the sun — but to take advantage of this you will first need to pay to set up your panels. The cost and possible savings vary depending on some key factors such as:

• Your home's orientation toward the sun: This, and the configuration of your roof, affects affect how much energy your solar panels can produce.
• Incentives: The federal solar investment tax credit currently allows you to lower your taxes by 30% of the project cost. Your state and even local utility companies may also have incentives and rebates that you can take advantage of. Additionally, you can save about $15,000 over 20 years on your utility bills, without incentives.
• The type of solar panels you can afford: This is dependent on what your budget is.
• Your household's power bills: Due to high monthly electricity bills in Fanwood, you could save about $710 a year with solar.

Even though a solar panel system costs a decent chunk of money upfront, it can save you thousands of dollars over the lifespan of your panels. The question of how much, though, depends on several factors, including the kind of solar panels you get and your energy consumption.

Solar Incentives in Fanwood

Adopting solar power has lots of great benefits. Not only can it help protect the Earth, but you can also save a decent amount of money on your installation with various government incentives. You qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your a solar system. You can also possibly stack the ITC with other local rebates and benefits. In our article on solar incentives, you can see the incentives you qualify for in Fanwood.

Environmental Impact of Switching to Solar in Fanwood

A lot of people want to do what they can to help protect the environment, which for many is the primary reason for installing solar panels. You may be curious — how much does making the switch do for the planet anyway? One thing you should keep in mind is your overall carbon footprint. For example, if you spend a lot of time in the car and have an electric vehicle, you can install solar panels on your home to power your EV and therefore help offset your carbon emissions. Since solar panels don't release carbon dioxide emissions into the atmosphere when generating electricity, they're a good substitute for nonrenewable energy sources. In fact, you could lower your carbon dioxide emissions by about 60 pounds each year. As you can see, going solar has so many other rewards besides saving money. One of the most important ones is that you can help save the planet too.