18 Best Solar Companies in Lawrence, NJ (Oct 2022 Review)

The Cost and Benefits of Solar in Lawrence

We get that for lots of homeowners, the decision to invest in solar comes down to installation costs. A few main factors that determine the cost of installing solar panels on your home and how much money you could save over time are:

• How much sunlight your roof gets: If your rooftop doesn't get a lot of direct sunlight, your solar system won't be able to produce as much energy, which will give you lower savings on power bills than a house with a roof that gets a lot of sunlight.
• The make and model of solar panels you're thinking of getting: More efficient panels are more costly, so that will shape your budget for your solar project.
• Incentives: The federal solar investment tax credit, which can save you some money, allows you to deduct 30% of the cost of installing your solar panel system from your taxes. Additionally, not including incentives, you can save about $14,000 over 20 years on your energy bills.
• Your energy bills: This will impact how much money you might save. In Lawrence, the average homeowner can save about $710 a year on their electricity bills.

Solar is a rewarding investment for most homeowners. You can produce your own electricity instead of paying for it from the grid and benefit from solar tax credits and rebates, all while helping preserve the environment.

Solar Incentives in Lawrence

To increase the number of homes and businesses that use solar power, federal and local governments — and even some utility companies — offer incentives to help make solar power more financially viable and accessible. When you install a solar panel system on your home, you can claim the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. In addition, there are often some regional incentives that you can benefit from to further cut back on the cost of solar of solar panels. For comprehensive information about incentives that apply to you, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Lawrence

If you're thinking of adding solar panels to your home, one of the main reasons why may be to lower your greenhouse gas emissions. You may be trying to figure out — how much does going solar do for the planet anyway? One thing that can severely affect your carbon footprint is how long your commute is and how much you drive in general. If you go solar and drive an electric car, you can vastly lower your carbon dioxide emissions by charging your car at home. Once you go solar, your carbon footprint can be lowered by about 60 pounds each year. Since energy from the sun is abundant and generates electricity without free from carbon dioxide emissions, installing solar panels is one easy step you can take to help protect the environment.