15 Best Solar Companies in Stanhope, NJ (Feb 2023 Review)

The Cost and Benefits of Solar in Stanhope

We understand that for lots of homeowners, the decision to invest in solar rests on installation costs. A few main factors that influence the cost of installing a solar panel system on your home and how much it could save you over time are:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Aside from incentives, you can save an average of $13,000 over 20 years with your solar system, too.
• How much energy costs for you: If your local electricity rates are high, there's a good chance you'll get a higher return on your investment in solar panels. In Stanhope, you can save an average of $54 a month on your electricity bills.
• average energy usage: The more power your household uses on average and the greater your current power bills are, the more money you could save by making the switch to solar.
• System size and type: Some models are more pricy than others, so the one you get can raise or lower your upfront cost. Plus, the more solar panels you need, the more it'll cost.

There are several good benefits of solar in spite of the upfront cost of installation. It can help the environment and your wallet. In addition, it can boost the value of your home, leading to even more benefits if you choose to sell your home later.

Solar Incentives in Stanhope

Although solar power is typically a big investment, it can save you a substantial amount of money in the long term due to reduced energy bills and government incentives. You qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your a solar panel system. You can also potentially use the ITC with other state and city rebates and benefits. Take a look at our article on solar incentives to learn what incentives are available to you.

Environmental Impact of Switching to Solar in Stanhope

Swapping traditional energy for solar is a powerful way to do your part for a more environmentally-friendly future. A question many people might be asking themselves is how much can they really help protect the environment by going solar anyway? In a place like Stanhope where commute times can be very long, going solar can help offset some of your carbon dioxide emissions from driving. While solar panel production emits carbon dioxide, the panels make up for it by significantly lowering the amount of CO2 you would have produced if you still used traditional energy. In Stanhope, you can reduce your carbon footprint by 50 pounds a year with solar panels. If you care about the environment, you'll no doubt get that there are many good things about adopting solar energy other than just saving money on bills. You can also help protect the environment, which some would argue is priceless.