13 Best Solar Companies in Medford, NJ (Oct 2022 Review)

The Cost and Benefits of Solar in Medford

The cost of installing a solar panel system has decreased significantly over the past few years, but it's still a significant investment for most homeowners. The installation cost is just one important factor you should keep in mind when looking into installing solar panels. How much it'll cost and how much you can save depend on things such as:

• Your location: This influences the average daily sunlight your roof gets, which helps determine how many panels you need.
• Incentives: The federal solar investment tax credit, which everyone qualifies for, lets you deduct 30% of the cost of installing your solar panel system from your federal taxes. Plus, not including incentives, you can save about $17,000 over 20 years on your energy bills.
• Choice of solar panels: The kind of solar panels you choose will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also save you more money over the lifetime of your system. If space isn't a constraint for your project, you can opt for a higher number of more affordable panels.
• Energy consumption: Solar may be a high-cost option for households that don't use a lot of energy a month.

Because of the cost of solar panels being lower than before as well as various solar incentives, they are a solid investment for the majority of homeowners.

Solar Incentives in Medford

Although a solar power system is typically a big investment, it can save you a significant amount of money over many years because of reduced power bills and government incentives. There are several federal, state and local rebates and tax credits that earn anywhere from 26% to 50% of your money in return after buying solar panels. In the table below, you can see the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Medford

A lot of people want to do their part to help the environment, which in many cases is the primary motivation to install solar panels. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Medford, though. One thing that can dramatically shape your carbon footprint is your commute time and how much you drive generally. If you switch to solar power and drive an electric car, you can significantly reduce your carbon dioxide emissions by charging your car at home. In Medford, the average household can lower their carbon footprint by 60 pounds a year after going solar. The perks of solar power are abundant — just like solar power is! That's why so many Medford residents have been happy with making the switch to solar.