11 Best Solar Companies in Paterson, NJ (Dec 2022 Review)

The Cost and Benefits of Solar in Paterson

Solar panels run off a free energy source — the sun — but before you can take advantage of this you will need to pay to install your panels. 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 including:

• Incentives: One thing that can make your solar project cost less 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 money on your utility bills, which can result in an average of $14,000 of savings over 20 years.
• Your energy bills: This will impact how much money you might save. In Paterson, the average homeowner can save about $720 a year on their electricity bills.
• How much energy you use: If your family needs to use a lot of energy, you'll benefit more from going solar.
• System size and type: Some models are more costly than others, so the one you choose can raise or lower your upfront cost. Plus, the more solar panels you need to buy, the more it'll cost.

Due to the cost of solar panels being lower than before as well as local and federal solar incentives, they are a sound investment for the majority of homeowners.

Solar Incentives in Paterson

Switching to solar power has plenty of wonderful benefits. Not only can it help preserve the environment, but you can also save some money on your installation with various government incentives. You can qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your a solar panel system. You can also possibly pair the ITC with other local incentives. For detailed information about incentives that apply to you, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Paterson

There are a few important reasons why people want to invest in solar energy: for the good of their bank accounts and the planet. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Paterson, though. In a city like Paterson where commute times can be pretty long, installing solar panels can help offset some of your carbon dioxide emissions from driving a lot. In Paterson, the average resident can lower their carbon footprint by 50 pounds a year once they go solar. If you want to do what you can for the environment, you'll likely find that there are many benefits of adopting solar power other than just saving money on electricity. You can also help protect the environment, which some would argue is invaluable.