16 Best Solar Companies in Lyndhurst, NJ (Jan 2023 Review)

The Cost and Benefits of Solar in Lyndhurst

Solar panels run off a free energy source — the sun — but before you can take advantage of this you will first need to pay to install your panels. Some important things that determine the cost and possible savings include:

• Typical energy usage: The more electricity your household consumes on average and the steeper your current electricity bills are, the more benefits you'll see from making the switch to solar.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your overall installation cost, your local government may offer additional tax exemptions, credits or rebates that can help you save even more. Aside from incentives, you can save an average of $15,000 over the first 20 years with your system, too.
• Your location: This affects how much sunlight your roof gets, which helps determine how many panels you need.
• The kind of solar panels you want to get: Some are more costly, so that will determine your budget for your solar project.

Although a solar panel system costs a decent chunk of money upfront, it can save you much more over time. The question of how much, though, depends on a number of factors, such as the size of your house and your energy consumption.

Solar Incentives in Lyndhurst

One of the benefits of installing a solar panel system is earning government incentives. Everyone can take advantage of the federal Solar Investment Tax Credit (ITC), which will let you claim 30% of your project costs on your tax return, reducing the amount of taxes you owe that year. Additionally, there may be some local incentives that can save you some extra money too. Our article on solar incentives has more detailed information on the incentives you can take advantage of in Lyndhurst.

Environmental Impact of Switching to Solar in Lyndhurst

There are tons of reasons to switch to solar power, like saving money on electricity bills and helping to lower your carbon footprint. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Lyndhurst, though. The amount of energy you use is a key factor to keep in mind. The more electricity you use, the larger your impact when you make the switch to solar power. Because solar panels don't release carbon dioxide emissions into the atmosphere when generating electricity, they're a good trade for traditional energy sources. In fact, you could reduce your carbon dioxide emissions by about 60 pounds each year. Since solar power is plentiful and generates electricity without free from carbon dioxide emissions, making the switch to solar power is one easy step you can take to help the planet.