12 Best Solar Companies in Paramus, NJ (Jan 2023 Review)

The Cost and Benefits of Solar in Paramus

When deciding on a solar company, most homeowners or business owners worry about the costs above all. A few key factors that dictate the cost of installing solar panels on your home and how much it could save you over time are:

• How much electricity your household consumes: Households that need plenty of energy each month may call for more solar panels and, consequently, be more expensive, but will also save more on their energy bills over time.
• Your energy bills: This will influence how much you can save. In Paramus, the average resident can save about $710 a year on their electricity bills.
• Incentives: One thing that can reduce the cost of your solar project is the solar investment tax credit (ITC), which is a tax credit that's equal to a percentage of the project cost. You can also save on your power bills, which can result in an average of $15,000 of savings over 20 years.
• Choice of solar panels: The kind of solar panels you get 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 opt for a higher number of more affordable panels.

There are several great benefits of solar despite the initial cost of installation. It can help the planet and your finances. Plus, it can raise the value of your home, giving you even more benefits if you want to sell your home later.

Solar Incentives in Paramus

To increase the adoption of solar power, incentives are offered by the government — and even some utility companies — to help make switching to solar power more financially viable and accessible. You qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your a solar system. You can also potentially pair the ITC with other local rebates and benefits. For detailed information about incentives for homeowners in Paramus, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Paramus

There are a few big reasons why homeowners are interested in solar energy: to help their wallet and the environment. But how much can installing solar panels actually affect the environment? Your energy usage is an important factor to consider. The more energy your home uses, the greater your impact when you make the switch to solar power. When you go solar, your carbon emissions can be reduced by about 60 pounds every year. The great things about solar power are abundant — just like solar power is! That's why so many people have been happy with committing to solar.