15 Best Solar Companies in Hamilton, NJ (Nov 2022 Review)

The Cost and Benefits of Solar in Hamilton

The cost of installing solar panels has gone down immensely in the past few years, but it's still a large investment for most homeowners. The cost and possible savings vary depending on some key factors such as:

• Typical energy usage: The more energy your household consumes on average and the greater your current energy bills are, the more benefits you'll see from making the switch to solar.
• The cost of electricity in your area: If your local energy rates are high, there's a better chance you'll get a higher return on your investment in a solar system. In Hamilton, you can save an average of $58 a month on your electricity bills.
• Whether or not your roof gets a lot of direct sunlight: This, along with your roof configuration, affects affect how much power your solar panels can make.
• Incentives: The federal solar investment tax credit currently lets you decrease your taxes by 30% of the project cost. Your state and city may also have incentives and rebates that you can take advantage of. Additionally, you can save about $14,000 over 20 years on your utility bills, not including incentives.

Although a solar panel system costs a sizable chunk of money upfront, it can save you a considerable amount over the lifespan of your panels. The question of how much, though, depends on several factors, including the amount of daily direct sunlight available and incentives.

Solar Incentives in Hamilton

One of the good things about installing a solar panel system is receiving federal and potentially state incentives. There are a lot of federal, state and local rebates and tax credits that may earn you a decent amount of money in return after paying for a qualifying system. Check out our article on solar incentives to find out what incentives you can benefit from.

Environmental Impact of Switching to Solar in Hamilton

There are lots of reasons to switch to solar power, like saving on utility bills and helping to lower your carbon footprint. But — how much exactly can you help by using solar power? One thing you should keep in mind is your overall carbon footprint. For example, if you have a long commute time and have an electric vehicle, you can install solar panels on your home to power your EV and therefore help offset your carbon emissions. In fact, if you install solar panels, you could reduce your carbon dioxide emissions by about 60 pounds each year. As you can see, trading traditional energy for solar has so many other perks besides saving money. One of the main ones is that you can help save the environment too.