18 Best Solar Companies in Hoboken, NJ (Mar 2023 Review)

The Cost and Benefits of Solar in Hoboken

When choosing a solar company, most homeowners or business owners care about the costs the most. The installation cost is just one important factor you should bear in mind when looking into getting solar panels. How much it'll cost and how much you can save depend on things including:

• Your power bills: This will dictate how much you can save. In Hoboken, the average resident can save about $710 a year on their electricity bills.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your overall installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Excluding incentives, you can save an average of $15,000 over 20 years with your solar panels, too.
• Average daily sunlight: Since Hoboken gets a decent amount of average daily sunlight, your solar panels can generally produce enough energy to power your whole home, which affects how much your electricity bills will be.
• The kind of solar panels you can purchase: This hinges on what your budget is.

Due to solar panels decreasing in cost as well as several solar incentives, they are a cost-effective investment for the majority of homeowners.

Solar Incentives in Hoboken

Although installing solar panels is typically a $15,000 to $25,000 investment, it can save you much money in the long term due to lower utility bills and government incentives. There are several federal, state and local rebates and tax credits that may earn you a decent amount of money in return after paying for a solar panel system. In our article on solar incentives, you can find out about the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Hoboken

If you're thinking of adding solar panels to your home, one of the major reasons why may be to reduce your carbon dioxide emissions. But you may be wondering — how much exactly can you help by using solar power? A key thing to be mindful of is your overall carbon footprint. For example, if your commute is very long, your footprint may be bigger, so switching to solar energy for your house can help offset that. In fact, if you adopt solar power, you could lower your carbon dioxide emissions by about 60 pounds each year. As you can see, trading traditional energy for solar has so many other rewards apart from saving money. One of the most important ones is that you can help save the environment too.