16 Best Solar Companies in University Park, NM (Mar 2023 Review)

The Cost and Benefits of Solar in University Park

The cost of installing a solar panel system has gone down significantly over the past several years, but it's still a substantial investment for most homeowners. Some significant things that determine how much it will cost and how much you could save include:

• How much power your home consumes: Homes that need plenty of electricity each month may require more solar panels and, therefore, more upfront cost, but will also benefit more over time.
• How much sunlight your roof gets: If your roof doesn't get a lot of direct sunlight, your solar panels won't be able to produce as much energy, which will leave you with lower savings on power bills than someone with a roof that gets plenty of sunlight.
• 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 can help you save even more. Not including incentives, you can save an average of $23,000 over the first 20 years with your solar system, too.
• System size and type: Some models are more pricy than others, so the one you choose can raise or lower your upfront cost. Plus, the more solar panels you need to buy, the more it'll cost.

There are several great benefits of solar even with the initial cost of installation. It can help the environment and your bank account. In addition, it can boost the value of your home, resulting in even more benefits if you want to sell your home later.

Solar Incentives in University Park

Although a solar power system is typically a $15,000 to $25,000 investment, it can save you a significant amount of money over many years due to smaller energy bills and government incentives. There are quite a few federal, state and local rebates and tax credits that earn some money in return after paying for a solar panel system. Our article on solar incentives has more in-depth information on the incentives you can find in University Park.

Environmental Impact of Switching to Solar in University Park

One of the best reasons to embrace solar power is to decrease your dependence on traditional energy sources like burning fossil fuels, which are hazardous for the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in University Park, though. According to the EPA, electricity production is the second largest source of greenhouse gas emissions and about 62% of our electricity is produced by burning fossil fuels. Using solar power can help lower that statistic in a city like University Park that produces a sizable amount of carbon dioxide emissions each year. In fact, if you adopt solar power, you could lower your carbon dioxide emissions by about 100 pounds each year. As you can see, trading traditional energy for solar has so many other benefits apart from saving money. One of the main ones is that you can help save the environment too.