13 Best Solar Companies in Lake Mohawk, NJ (Jan 2023 Review)

The Cost and Benefits of Solar in Lake Mohawk

The cost of installing solar panels has gone down greatly in the past several years, but it's still a significant investment for most homeowners. A few key factors that affect the cost of installing solar panels on your home and how much money you could save over time include:

• Your household's power bills: Based on the high monthly electricity bills in Lake Mohawk, you could save about $700 a year with solar.
• Electricity consumption: The average household in Lake Mohawk doesn't use much energy, and therefore may not see as many savings on their power bills.
• Incentives: The federal solar investment tax credit, which can save you some money, allows you to deduct 30% of the cost of your solar system installation from your taxes. Plus, not including incentives, you can save about $14,000 over 20 years on your energy bills.
• Your income and budget: This guides what kind of solar panels you can afford.

Thanks to solar panels now being cheaper than ever as well as local and federal solar incentives, they are a solid investment for the majority of homeowners.

Solar Incentives in Lake Mohawk

Although installing solar panels is typically a large investment, it can save you a considerable amount of money over time because of lower utility bills and government incentives. These incentives normally take the form of cash rebates, tax benefits and/or solar renewable energy credits. They can cut how much you pay for installing solar panels by 30%, upwards of 50% depending on your location. In our article on solar incentives, you can see the incentives you qualify for in Lake Mohawk.

Environmental Impact of Switching to Solar in Lake Mohawk

Installing solar panels can have a meaningful impact on the environment. But you may be wondering — how much exactly can you help the environment by making the switch to solar? A key thing to keep in mind is your overall carbon footprint. For example, if you spend a lot of time driving to work, your footprint may be greater, so adopting solar power for your house can help offset that. Since solar panels don't release carbon dioxide emissions into the atmosphere when creating electricity, they're a good trade for nonrenewable energy sources. In fact, you could lower your carbon dioxide emissions by about 50 pounds each year. As you can see, investing in solar has so many other benefits outside of saving money. One of the major ones is that you can help save the planet too.