17 Best Solar Companies in Mount Ephraim, NJ (Aug 2022 Review)

The Cost and Benefits of Solar in Mount Ephraim

The cost of installing a solar panel system has dropped significantly over the past few years, but it's still a large investment for most homeowners. There are quite a few factors you should consider when determining how much it will cost and how much you can save, including:

• The cost of electricity in your area: If your local power rates are high, there's a better chance you'll have a higher return on your investment in a solar system. In Mount Ephraim, you can save an average of $60 a month on your electricity bills.
• How much energy you use: If your home needs to use a lot of energy, you'll see more savings from installing solar panels.
• Choice of solar panels: The kind of solar panels you want 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 go with a higher number of more affordable panels.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 26% of your overall installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Aside from incentives, you can save an average of $15,000 over 20 years with your solar panels, too.

So is a solar system worth it? Whether you're trying to lower your energy bills, greenhouse gas emissions or both, solar panels are a great investment for many Mount Ephraim homeowners.

Solar Incentives in Mount Ephraim

If you're thinking about making the switch to solar energy, a number of government incentives and tax credits can immensely reduce the cost of the project and expedite the return on your investment. When you install a solar panel system, you become eligible to claim the federal tax credit, or ITC. This credit currently lets you reduce your tax bill by 26% of the cost of your solar panels. In addition, there may often be some regional incentives that you can use to further save. For detailed information about incentives that apply to you, see the table below.

Environmental Impact of Switching to Solar in Mount Ephraim

Installing solar panels can have a meaningful impact on the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Mount Ephraim, though. A significant thing to be mindful of is your overall carbon footprint. For example, if you have a long commute, your footprint may be bigger, so switching to solar energy for your home can help offset that. Since solar panels don't release carbon dioxide emissions into the atmosphere when creating electricity, they're a good trade for traditional energy sources. In fact, you could lower your carbon dioxide emissions by about 60 pounds each year. The perks of solar power are infinite — just like solar power is! That's why so many people have been happy with making the switch to solar.