11 Best Solar Companies in Monroe, NJ (Oct 2022 Review)

The Cost and Benefits of Solar in Monroe

For many people, the decision of which solar company to hire depends on costs. Some important factors that affect the cost of installing a solar panel system on your home and how much money you could save over time include:

• Your income and budget: This guides what model of solar panels you can get.
• average energy usage: The more electricity your household uses on average and the higher your current electricity bills are, the more likely you'll benefit from switching to solar.
• Your energy bills: This will determine your savings. In Monroe, the average resident can save about $680 a year on their electricity bills.
• Incentives: The federal solar investment tax credit, which can save you some money, lets you deduct 30% of the cost of installing your solar panel system from your federal taxes. In addition, not including incentives, you can save about $14,000 over 20 years on your energy bills.

There are lots of good benefits of solar despite the upfront cost of installation. It can help the planet and your wallet. Additionally, it can increase the value of your home, resulting in even more benefits if you want to sell your home later.

Solar Incentives in Monroe

Although solar power is typically a large investment, it can save you a significant amount of money in the long term due to reduced utility bills and government incentives. When you install solar panels, 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. Plus, there are often some local incentives that you can benefit from to further cut back on the cost of solar of solar panels. For more information about incentives that apply to you, check out the table below.

Environmental Impact of Switching to Solar in Monroe

There are a few important reasons why homeowners are considering solar energy: to help their wallet and the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Monroe, though. A key thing to think about is your overall carbon footprint. For example, if you spend a lot of time driving to work, your footprint may be bigger, so switching to solar energy for your home can help offset that. Even though making solar panels emits carbon dioxide, the panels make up for it by considerably decreasing the amount of CO2 you would have produced if you still used nonrenewable energy. In Monroe, you can reduce your carbon footprint by 60 pounds a year with solar panels. As you can see, investing in solar has so many other benefits apart from saving money. One of the most important ones is that you can help save the environment too.