18 Best Solar Companies in Tenafly, NJ (Mar 2023 Review)

The Cost and Benefits of Solar in Tenafly

For many people, the decision of which solar company to hire depends on prices. There are a few factors you should consider when trying to figure out the overall cost and how much you can save, including:

• Choice of solar panels: The kind of solar panels you get 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.
• Electricity consumption: The average home in Tenafly doesn't use much energy, and therefore may not see as many savings on their power bills.
• How much energy costs for you: If your local energy rates are high, there's a better chance you'll get a higher return on your investment in a solar panel system. In Tenafly, you can save an average of $60 a month on your electricity bills.
• Incentives: The federal solar investment tax credit currently lets you reduce your taxes by 30% of the project cost. Your state may also have various incentives that you can benefit from. Plus, you can save about $15,000 over 20 years on your utility bills, before factoring in incentives.

There are several wonderful benefits of solar even with the upfront cost of installation. It can help the planet and your wallet. In addition, it can boost the value of your home, leading to even more benefits if you want to sell your home later.

Solar Incentives in Tenafly

In an effort to increase solar panel installation and usage, federal, state and local governments — and even some utility companies — offer incentives to help make solar power more financially viable and accessible. Local solar incentives vary by location and, sometimes, utility company. A lot of states offer rebates for home solar power systems, in addition to the federal solar tax credit. For detailed information about incentives for homeowners in Tenafly, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Tenafly

One of the best reasons to adopt solar energy is to reduce your reliance on traditional energy sources like burning fossil fuels, which are hazardous for the environment. You may be asking yourself — how much does making the switch help the environment anyway? The average person has a substantial carbon footprint. Between their car, which is responsible for over 10,000 pounds of carbon dioxide emissions each year, and electricity for their home, it can be overwhelming to figure out what to do. Going solar is a simple thing you can do to help. Since solar panels don't release carbon dioxide emissions into the atmosphere when generating electricity, they're a good trade for traditional energy sources. In fact, you could reduce your carbon dioxide emissions by about 60 pounds each year. As you can see, going solar has so many other perks beyond saving money. One of the major ones is that you can help save the planet too.