18 Best Solar Companies in Lawrence, NJ (Jan 2023 Review)

The Cost and Benefits of Solar in Lawrence

The cost of installing a solar panel system has decreased significantly in the past several years, but it's still a large investment for most homeowners. There are quite a few factors you should take into consideration when trying to determine how much it will cost and how much you can save, such as:

• The amount of sunlight your house gets: Because of Lawrence's high amount of average daily sunlight, you should be able to save a decent amount on your power bills.
• Incentives: The federal solar investment tax credit currently allows you to decrease your taxes by 30% of the project cost. Your state and city may also have various incentives that you can benefit from. Additionally, you can save about $14,000 over 20 years on your utility bills, without incentives.
• How much you spend on energy: The average household in Lawrence spends around $710 a year on energy alone, so you could end up with that much in savings.
• The model of solar panels you're planning on getting: More efficient panels are more costly, so that will influence your budget for your solar project.

There are several good benefits of solar even with the initial cost of installation. It can help the planet and your finances. Additionally, it can raise the value of your home, resulting in even more benefits if you decide to sell your home later.

Solar Incentives in Lawrence

There are many good reasons why adopting solar power is beneficial. One of them involves some government incentives you can take advantage of. These incentives mostly consist of cash rebates, tax credits and/or performance-based incentives. They can reduce the cost of installing solar panels by 30%, upwards of 50% depending on your location. Our article on solar incentives has more in-depth information on the incentives you can take advantage of in Lawrence.

Environmental Impact of Switching to Solar in Lawrence

There are tons of reasons to make the switch to solar power, like saving on electricity bills and helping to lower your carbon footprint. But — how much exactly can you help by going solar? A significant thing to keep in mind is your overall carbon footprint. For example, if your commute is very long, your footprint may be larger, so adopting solar power for your house can help offset that. After you go solar, your carbon footprint can be reduced by about 60 pounds every year. For those who care about the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.