17 Best Solar Companies in Wanaque, NJ (Mar 2023 Review)

The Cost and Benefits of Solar in Wanaque

While solar panels can save you a decent chunk of change on energy over time, it's important to know the upfront costs. The cost of solar and the savings it generates vary depending on a few key factors such as:

• Energy consumption: Installing solar panels may be too pricey an option for households that don't need too much energy each month.
• Your energy bills: This will dictate your savings. In Wanaque, the average homeowner can save about $680 a year on their electricity bills.
• Incentives: Something that can reduce the cost of your solar project is the solar investment tax credit (ITC), which is a tax credit that lets you deduct from your taxes a percentage of the project cost. You can also save a decent amount of money on your utility bills, which can result in an average of $14,000 of savings over 20 years.
• System size and type: Some models are more pricy than others, so the one you want can raise or lower your upfront cost. Plus, the more solar panels you need, the more it'll cost.

Solar is a profitable investment for most homeowners. You can make your own power instead of paying for it from a utility company and benefit from solar incentives, all while helping the environment.

Solar Incentives in Wanaque

Since solar power is a cleaner source of energy than burning fossil fuels, there are quite a few government incentives available to encourage its adoption. When you install a solar panel system on your house, you can claim the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. Additionally, there are often some local incentives that you can use to further save. Our article on solar incentives goes over more in-depth information on the incentives you can find in Wanaque.

Environmental Impact of Switching to Solar in Wanaque

Many want to do their part to help protect the planet, which for many is the main reason they're interested in installing solar panels. But — how much exactly can you help by going solar? If your family consumes a lot of energy, you can impact the environment even more by switching to solar power. In Wanaque, the average homeowner can lower their carbon footprint by 50 pounds a year after going solar. As you can see, using solar power has so many other rewards besides saving money. One of the main ones is that you can help save the planet too.