16 Best Solar Companies in Hopatcong, NJ (Mar 2023 Review)

The Cost and Benefits of Solar in Hopatcong

Solar panels are powered by a free energy source — the sun — but before you can take advantage of this you will need to pay to set up your panels. The installation cost is just one important factor you should take into account when looking into installing solar panels. How much it'll cost and how much you can save depend on things such as:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently 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. Aside from incentives, you can save an average of $13,000 over 20 years with your system, too.
• How much energy you use: If your home needs to use a lot of energy, you'll benefit more from going solar.
• Your income and budget: This affects what model of solar panels you can buy.
• How much energy costs for you: If your local energy rates are high, there's a good chance you'll get a higher return on your investment in a solar panel system. In Hopatcong, you can save an average of $54 a month on your electricity bills.

There are many great benefits of solar despite the upfront cost of installation. It can help the planet and your bank account. Additionally, it can boost the value of your home, giving you even more benefits if you want to sell your home later.

Solar Incentives in Hopatcong

One of the benefits of installing a solar panel system is receiving federal and potentially state incentives. Everyone can take advantage of the federal Solar Investment Tax Credit (ITC), which will allow you to claim 30% of how much you paid for your solar installation on your tax return, reducing the amount of taxes you owe that year. Plus, there may be some local incentives you can benefit from too. For detailed information about incentives for homeowners in Hopatcong, visit our our article on solar incentives.

Environmental Impact of Switching to Solar in Hopatcong

Lots of people want to do their part to help protect the planet, which often is the main motivation to install a solar system. But — how much exactly can you help the planet by making the switch to solar? The average person has a considerable carbon footprint. Between their car, which releases over 10,000 pounds of carbon dioxide emissions every year, and powering their home, it can be overwhelming to think about what to do. Going solar is a simple thing you can do to help. In Hopatcong, the average homeowner can reduce their carbon footprint by 50 pounds a year after going solar. If you want to do your part for the environment, you'll no doubt understand that there are many benefits of adopting solar energy other than just saving money on bills. You can also help preserve the environment, which some would argue is worth more.