17 Best Solar Companies in New Milford, NJ (Feb 2023 Review)

The Cost and Benefits of Solar in New Milford

For the majority of homeowners, whether or not you should invest in solar energy boils down to the cost. 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:

• Choice of solar panels: The type of solar panels you are interested in getting 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 you don't need to maximize efficiency, you can go with a higher number of more affordable panels.
• Your current electricity bills: Solar panels can significantly lower, or entirely eliminate, your utility bills. In New Milford, you can save an average of $60 a month.
• Incentives: One thing that can make your solar project cost less is the solar investment tax credit (ITC), which is a tax credit that lets you deduct from your taxes a percentage of the project cost. You can also save on your power bills, which can give you an average of $15,000 of savings over 20 years.
• How much power your household needs: If your family uses a lot of energy, you'll reap more rewards from installing solar panels.

Due to solar panels decreasing in cost as well as local and federal solar incentives, they are a solid investment for the majority of homeowners.

Solar Incentives in New Milford

If you're planning on making the switch to solar energy, several government incentives and solar rebates can greatly reduce the installation costs and speed up the return on your investment. In addition to the federal solar investment tax credit, there are also some state- and city-level programs, which in the majority of cases, stack with the federal incentive, so you get to save even more. Our article on solar incentives goes over more information on the incentives you can benefit from in New Milford.

Environmental Impact of Switching to Solar in New Milford

There are a few big reasons why homeowners are considering solar energy: for the financial and environmental benefits. But how much can switching to solar actually affect the environment? In a place like New Milford where commute times can be very long, installing solar panels can help help reduce the carbon footprint of driving. In New Milford, the average resident can reduce their carbon footprint by 60 pounds a year after going solar. For those who want to help the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.