12 Best Solar Companies in Greenwich, NJ (Mar 2023 Review)

The Cost and Benefits of Solar in Greenwich

While solar panels can save you a decent chunk of change on utility bills over time, it's important to know the upfront costs. There are a few factors you should consider when trying to figure out costs and your potential savings, including:

• Your energy bills: This will determine how much you can save. In Greenwich, the average resident can save about $650 a year on their electricity bills.
• The kind of solar panel system you have the money for: This is dependent on what your budget is.
• average energy usage: The more energy your home consumes on average and the larger your current energy bills are, the more money you could save by making the switch to solar.
• Incentives: One thing that can make your solar project cost less is the solar investment tax credit (ITC), which is a tax credit that lets you deduct from your taxes a percentage of the project cost. You can also save a decent amount of money on your utility bills, which can result in an average of $13,000 of savings over 20 years.

Though a solar panel system costs a decent chunk of money upfront, it can save you much more in the long term. The question of how much, though, depends on several factors, including the angle of your roof and incentives.

Solar Incentives in Greenwich

There are many good reasons why adopting solar power is beneficial. One of them involves some government incentives that can save you money. When you install solar panels on your house, you become eligible to claim the federal tax credit, or ITC. This credit currently lets you lower your tax bill by 30% of the cost of your solar panels. In addition, there may often be some local incentives that you can use to further cut back on the cost of solar of solar panels. In our article on solar incentives, you can see the incentives you qualify for in Greenwich.

Environmental Impact of Switching to Solar in Greenwich

If you're planning on adding solar panels to your home, one of the main reasons why may be to lower your greenhouse gas emissions. You may be curious — how much does making the switch do for the environment anyway? The average person has a rather large carbon footprint. Between their car, which produces over 10,000 pounds of carbon dioxide emissions a year, and powering their home, it can be overwhelming to think about what to do. Switching to solar is one of the easiest things you can do to help. While solar panel manufacturing releases carbon dioxide emissions, the panels make up for it by greatly decreasing the amount of CO2 you would have released if you still used traditional energy. In Greenwich, you can reduce your carbon footprint by 50 pounds a year with solar panels. For people who want to help the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.