17 Best Solar Companies in New Milford, NJ (Sep 2022 Review)

The Cost and Benefits of Solar in New Milford

Although solar panels can help save you money on energy bills over time, it's necessary to know the startup costs. There are several factors you should take into consideration when trying to determine how much it will cost and how much you can save, including:

• Incentives: The federal solar investment tax credit currently allows you to decrease your taxes by 30% of the project cost. Your state and city may also have incentives and rebates that you can use. Plus, you can save about $15,000 over 20 years on your utility bills, before factoring in incentives.
• The model of solar panels you're thinking of getting: More efficient panels cost more, so that will influence your budget for your solar project.
• Electricity consumption: The average home in New Milford doesn't use much energy, and so may not see as many savings on their power bills.
• Your current energy bills: Solar panels can significantly reduce, or entirely eliminate, your utility bills. In New Milford, you can save an average of $60 a month.

There are several wonderful benefits of solar in spite of the initial cost of installation. It can help the Earth and your finances. In addition, it can boost the value of your home, resulting in even more benefits if you choose to sell your home later.

Solar Incentives in New Milford

In an effort to increase the number of homes and businesses that use solar power, incentives are offered by the government — and even some utility companies — to help make solar more financially viable and accessible. In addition to the federal tax credit incentive, there are also some state- and city-level incentives, which in the majority of cases, can be claimed in addition to the federal incentive, so you get to save even more. Check out the table below to find out what incentives are available to you.

Environmental Impact of Switching to Solar in New Milford

Lots of people want to do what they can for the environment, which in many cases is the prime motivation to install solar panels. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in New Milford, though. The average person has a considerable carbon footprint. Between their car, which releases over 10,000 pounds of carbon dioxide emissions each year, and powering their home, it can be overwhelming to think about what to do. Going solar is a simple thing you can do to help. Because solar panels don't release carbon dioxide emissions into the atmosphere when producing electricity, they're a good swap for traditional energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 60 pounds each year. As you can see, trading traditional energy for solar has so many other rewards beyond saving money. One of the most important ones is that you can help save the environment too.