18 Best Solar Companies in Lakewood, NJ (Jul 2022 Review)

The Cost and Benefits of Solar in Lakewood

We understand that for many homeowners, the choice to invest in solar rests on installation costs. The installation cost is just one important factor you should take into account when looking into getting solar panels. How much it'll cost and how much you can save depend on things including:

• The kind of solar panels you want to get: Some are more highly priced, so that will affect your budget for your solar project.
• Average daily sunlight: Since Lakewood 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 you can save on your energy bills.
• Your energy consumption: If your home uses a lot of energy, you'll benefit more from switching to solar.
• Incentives: Something that can save you money on your solar project is the solar investment tax credit (ITC), which is a tax credit that's equal to a percentage of the project cost. You can also save a decent amount of money on your power bills, which can result in an average of $14,000 of savings over 20 years.

Solar is a rewarding investment for most homeowners. You can make your own energy instead of paying for it from the grid and take advantage of solar incentives, all while helping the Earth.

Solar Incentives in Lakewood

Although solar power is typically a $15,000 to $25,000 investment, it can save you a substantial amount of money over the lifespan of your solar panels due to smaller energy bills and government incentives. On top of the federal solar investment tax credit, there are also some local incentives, which in almost all cases, stack with the federal incentive, so you get to save even more. The table below gives you an idea of the incentives you can take advantage of in Lakewood.

Environmental Impact of Switching to Solar in Lakewood

Installing solar panels is a powerful way to do what you can for a more eco-friendly future. But — how much exactly can you help the environment by making the switch to solar? As reported by the EPA, electricity generation is the second greatest source of greenhouse gas emissions and about 62% of our electricity comes from burning fossil fuels. Switching to a clean energy source like solar power can help put a dent in that statistic in a city like Lakewood that accounts for a fair amount of carbon dioxide emissions each year. Since solar panels don't release greenhouse gas emissions into the atmosphere when generating electricity, they're a good substitute for traditional energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 60 pounds each year. The advantages of solar power are infinite — just like solar power is! That's why so many people have been happy with committing to solar.