16 Best Solar Companies in Franklin, NJ (Oct 2022 Review)

The Cost and Benefits of Solar in Franklin

Solar panels are powered by a free energy source — the sun — but to take advantage of this you will first need to pay to install your system. There are quite a few factors you should consider when trying to figure out the overall cost and how much you can save, such as:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 30% of your total installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Not including incentives, you can save an average of $14,000 over the first 20 years with your solar system, too.
• Your energy consumption: If your family needs to use a lot of energy, you'll benefit more from installing solar panels.
• The type of solar panel system you have the money for: This depends on your income and budget.
• How much energy costs for you: The typical household in Franklin spends around $710 a year on energy alone, so you could be looking at that much in savings.

There are lots of great benefits of solar in spite of the initial cost of installation. It can help the planet and your bank account. Plus, it can raise the value of your home, giving you even more benefits if you decide to sell your home later.

Solar Incentives in Franklin

In an effort to increase the number of homes and businesses that use solar power, federal and local governments — and even some utility companies — offer incentives to help make switching to solar power more affordable and accessible. When you install solar panels, you can take advatage of the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. Plus, there may often be some state and city incentives that you can use to further save. For more information about incentives that apply to you, check out the table below.

Environmental Impact of Switching to Solar in Franklin

Replacing nonrenewable energy with solar power is a compelling way to do your part for a more eco-friendly future. A question many people might be wondering about is how much can they really help protect the environment by going solar anyway? One thing that can dramatically affect your carbon footprint is how long your commute is and how much you drive generally. If you switch to solar power and drive an electric car, you can vastly cut back on your carbon dioxide emissions by charging your car at home. In fact, if you make the switch to solar power, you could be looking at reducing your carbon dioxide emissions by about 60 pounds each year. If you want to do what you can for the environment, you'll no doubt get that there are many good things about adopting solar power other than just saving money on electricity. You can also help preserve the environment, which some would argue is worth more.