16 Best Solar Companies in Franklin, NJ (Feb 2023 Review)

The Cost and Benefits of Solar in Franklin

Solar panels run off a free energy source — the sun — but before you can take advantage of this you must first pay to install your panels. The cost of solar and the savings it generates vary depending on a few important factors such as:

• Your income and budget: This determines what model of solar panels you can get.
• Your household's power bills: Due to high monthly electricity bills in Franklin, you could save about $710 a year with solar.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you deduct 30% of your overall installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Aside from incentives, you can save an average of $14,000 over the first 20 years with your solar system, too.
• How much energy you use: If your home uses a lot of energy, you'll see more savings from installing solar panels.

Thanks to the cost of solar panels being lower than before as well as several solar incentives, they are a worthwhile investment for the majority of homeowners.

Solar Incentives in Franklin

Although installing solar panels is typically a large investment, it can save you a substantial amount of money over many years due to reduced energy bills and government incentives. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will let you claim 30% of how much you paid for your solar installation when you file taxes, reducing the amount of taxes you owe that year. In addition, there may be some local incentives that can save you some extra money too. For more information about local incentives, check out our our article on solar incentives.

Environmental Impact of Switching to Solar in Franklin

Installing solar panels can have a meaningful impact on the environment. You may be asking yourself — how much do solar panels help the environment anyway? One thing you should consider is your overall carbon footprint. For example, if you spend a lot of time on the road and have an electric vehicle, you can use solar energy for 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 creating electricity, they're a good swap for traditional energy sources. In fact, you could reduce your carbon dioxide emissions by about 60 pounds each year. The advantages of solar power are plentiful — just like solar power is! That's why so many Franklin residents have been happy with using solar energy.