17 Best Solar Companies in Franklin Lakes, NJ (Mar 2023 Review)

The Cost and Benefits of Solar in Franklin Lakes

Even though solar panels can save you a good amount of money on energy bills over time, it's important to know the startup costs. The overall price and potential savings vary depending on a few important factors such as:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you deduct 30% of your overall installation cost, your state or local government may offer additional tax exemptions, credits or rebates that can help you save even more. Excluding incentives, you can save an average of $15,000 over the first 20 years with your system, too.
• Your current electricity bills: Solar panels can greatly reduce, or totally eradicate, your utility bills. In Franklin Lakes, you can save an average of $60 a month.
• The amount of sunlight your rooftop gets: Because of Franklin Lakes' high amount of average daily sunlight, you should be able to save a decent amount on your electricity bills.
• The model of solar panels you can purchase: This depends on how much you're willing to invest upfront.

Solar is a fruitful investment for most homeowners. You can generate your own electricity instead of paying for it from a utility company and make use of solar incentives and rebates, all while helping preserve the environment.

Solar Incentives in Franklin Lakes

Although installing solar panels is typically a $15,000 to $25,000 investment, it can save you much money over time because of reduced energy bills and government incentives. These incentives normally take the form of cash rebates, tax breaks and/or performance-based incentives. They can reduce the cost you pay for installing solar panels by 30%, upwards of 50% depending on where you live. Our article on solar incentives goes over more detailed information on the incentives you can benefit from in Franklin Lakes.

Environmental Impact of Switching to Solar in Franklin Lakes

Replacing nonrenewable energy with solar power is a good way to do what you can for a cleaner and more sustainable future. But you may be wondering — how much exactly can you help the environment by making the switch to solar? Your energy usage is a significant factor to think about. The more energy your home uses, the greater your impact when you make the switch to solar power. Because solar panels don't release greenhouse gas emissions into the atmosphere when creating electricity, they're a good swap for nonrenewable energy sources. In fact, you could reduce your carbon dioxide emissions by about 60 pounds each year. The advantages of solar power are abundant — just like solar power is! That's why so many homeowners have been happy with using solar energy.