15 Best Solar Companies in Red Bank, NJ (Jan 2023 Review)

The Cost and Benefits of Solar in Red Bank

Solar panels are powered by a free energy source — the sun — but before you can take advantage of this you first need to pay to install your system. Some significant things that influence the upfront cost and potential savings over time include:

• Where your home is: This affects how much sunlight your roof gets, which helps determine how many panels you need.
• Incentives: The federal solar investment tax credit, which can save you some money, lets you deduct 30% of the cost of installing your solar panel system from your federal taxes. In addition, not including incentives, you can save about $14,000 over 20 years on your energy bills.
• Electricity consumption: The average home in Red Bank doesn't use much energy, and as a result may not see as many savings on their power bills.
• Choice of solar panels: The type of solar panels you want will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also lead to more savings over the lifetime of your system. If space isn't a constraint for your project, you can opt for a higher number of more affordable panels.

So is a solar panel system worth it? Whether you're trying to reduce your electricity costs, greenhouse gas emissions or both, solar panels are a great investment for many Red Bank homeowners.

Solar Incentives in Red Bank

If you're planning on switching to solar energy, a number of government incentives and solar rebates can drastically bring down the installation costs and expedite the return on your investment. No matter what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will allow you to claim 30% of how much you paid for your solar installation when you file taxes, lowering the amount of taxes you owe that year. Additionally, there may be some local incentives you can benefit from too. In our article on solar incentives, you can read about the incentives you qualify for in Red Bank.

Environmental Impact of Switching to Solar in Red Bank

If you're considering adding solar panels to your home, one of the major reasons why may be to lower your reliance on nonrenewable energy. Something many people might have in mind is how much can they really help preserve the environment by switching to solar power anyway? In a place like Red Bank where commute times can be very long, going solar can help offset some of your carbon dioxide emissions from driving. In fact, if you make the switch to solar power, you could look forward to lowering your carbon dioxide emissions by about 60 pounds each year. For those who want to help the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.