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

The Cost and Benefits of Solar in Lakewood

For many readers, the decision of which solar company to go with depends on 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 such as:

• 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 influences how much your electricity bills will be.
• Incentives: Those who purchase and install a solar energy system this year can save 30% of their solar installation costs by taking advantage of the federal solar investment tax credit. You can also save about $14,000 on your utility bills over 20 years not including incentives.
• The kind of solar panels you want: Higher-efficiency panels cost more, so that will shape your budget for your solar project.
• Electricity consumption: The average home in Lakewood doesn't use much energy, and consequently may not see as many savings on their power bills.

Solar is a worthwhile investment for most homeowners. You can make your own electricity instead of paying for it from the grid and take advantage of solar tax credits and rebates, all while helping preserve the planet.

Solar Incentives in Lakewood

If you're planning on switching to solar power, various government incentives and subsidies can immensely bring down the installation costs and speed up the return on your investment. Regardless of what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will let you claim 30% of how much your solar project cost when you file taxes, reducing the amount of taxes you owe that year. Additionally, there may be some local incentives you can benefit from too. For detailed information about incentives that apply to you, check out our our article on solar incentives.

Environmental Impact of Switching to Solar in Lakewood

A lot of people want to do what they can for the environment, which in many cases is the main reason for installing solar panels. You may be wondering — how much does going solar help the planet anyway? If your family consumes lots of energy, you can have an even greater impact on the planet by switching to solar power. If you go solar, your carbon dioxide emissions can be cut by about 60 pounds each year. For people who want to help the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.