11 Best Solar Companies in Magnolia, NJ (Mar 2023 Review)

The Cost and Benefits of Solar in Magnolia

For many homeowners, the decision to invest in solar panels boils down to the cost. Some main factors that determine the cost of installing solar panels on your home and how much it could save you over time are:

• Where your home is: This influences how much sunlight your roof gets, which helps determine how many panels you need.
• Your household's power bills: With high monthly electric bills in Magnolia, you could save about $710 a year with solar.
• Choice of solar panels: The type of solar panels you are interested in getting will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also lead to more savings over the lifetime of your system. If you don't need to maximize efficiency, you can opt for a higher number of more affordable panels.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total 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.

So is installing solar panels worth it? Whether you want to decrease your electric bills, carbon dioxide emissions or both, solar panels are a good investment for many Magnolia homeowners.

Solar Incentives in Magnolia

Adopting solar power has plenty of great benefits. Not only can it help protect the planet, but you can also save a decent amount of money on your installation with various government incentives. Local solar incentives depend on the location and, sometimes, utility company. A lot of states offer rebates for home solar power systems, in addition to the federal solar tax credit. Take a look at our article on solar incentives to see what incentives you can take advantage of.

Environmental Impact of Switching to Solar in Magnolia

If you want to add solar panels to your home, one of the main reasons why may be to reduce your carbon footprint. But how much can installing solar panels actually help the environment? The average person has a sizable carbon footprint. Between their car, which produces over 10,000 pounds of carbon dioxide emissions each year, and energy for their home, it can be overwhelming to figure out what to do. Switching to solar is a simple thing you can do to help. When you go solar, your carbon dioxide emissions can be reduced by about 60 pounds every year. If you want to do what you can for the environment, you'll most likely understand that there are many benefits of adopting solar energy other than just saving money on electricity. You can also help preserve the environment, which some would argue is priceless.