13 Best Solar Companies in Runnemede, NJ (Aug 2022 Review)

The Cost and Benefits of Solar in Runnemede

We get that for many homeowners, the choice to invest in solar depends on installation costs. Some important things that influence the cost and possible savings include:

• The type and model of solar panels you're thinking of getting: More efficient panels are more highly priced, so that will affect your budget for your solar project.
• How much you spend on energy: If your local power rates are high, there's a better chance you'll have a higher return on your investment in solar panels. In Runnemede, you can save an average of $60 a month on your electricity bills.
• How much energy you use: If your family regularly uses a lot of energy, you'll see more savings from going solar.
• Incentives: The federal solar investment tax credit currently allows you to lower your taxes by 26% of the project cost. Your state and city may also have various incentives that you can benefit from. In addition, you can save about $15,000 over 20 years on your utility bills, not including incentives.

There are several great benefits of solar despite the upfront cost of installation. It can help the environment and your finances. Plus, it can increase the value of your home, resulting in even more benefits if you want to sell your home later.

Solar Incentives in Runnemede

If you're thinking about making the switch to solar energy, a variety of government incentives and solar rebates can drastically reduce the cost of the project and expedite the return on your investment. When you install a solar panel system on your home, you can claim the federal tax credit, or ITC. This credit currently lowers your tax bill by 26% of the cost of your solar panels. Additionally, there may often be some regional incentives that you can take advantage of to further save. For detailed information about incentives that apply to you, check out the table below.

Environmental Impact of Switching to Solar in Runnemede

Lots of people want to do what they can to help protect the planet, which for many is the chief motivation to install a solar system. But how much can using solar energy instead of traditional energy actually help the environment? The average person has a substantial carbon footprint. Between their car, which produces over 10,000 pounds of carbon dioxide emissions every year, and energy for their home, it can be overwhelming to figure out what to do. Using solar power is a practical thing you can do to help. If you go solar, your carbon footprint can be lowered by about 60 pounds a year. As you can see, investing in solar has so many other benefits outside of saving money. One of the main ones is that you can help save the environment too.