14 Best Solar Companies in Albany, NY (Jul 2022 Review)

The Cost and Benefits of Solar in Albany

Although solar panels can save you money on power bills over time, it's important to consider the startup costs. The overall price and potential savings vary depending on some key factors such as:

• Incentives: The federal solar investment tax credit, which everyone qualifies for, allows you to deduct 26% of the cost of your solar system installation from your taxes. In addition, not including incentives, you can save about $14,000 over 20 years on your energy bills.
• How much you spend on energy: If your local power rates are high, there's a good chance you'll get a higher return on your investment in a solar system. In Albany, you can save an average of $53 a month on your electricity bills.
• The kind of solar panels you want to get: More high-tech panels are more highly priced, so that will influence your budget for your solar project.
• Electricity consumption: The average home in Albany doesn't use much energy, and consequently may not see as many savings on their power bills.

Though a solar panel system costs a decent chunk of money upfront, it can save you thousands of dollars in the long term. The question of how much, though, depends on a number of factors, such as the amount of daily direct sunlight available and incentives.

Solar Incentives in Albany

In order to increase solar panel installation and usage, federal and local governments — and even some utility companies — offer incentives to help make going solar more economical and accessible. These incentives mostly consist of cash rebates, tax credits and/or performance-based incentives. They can lower how much you pay for going solar by 26 to 50% in some cases. For more information about incentives for homeowners in Albany, check out the table below.

Environmental Impact of Switching to Solar in Albany

There are a few big reasons why homeowners are interested in solar energy: for the financial and environmental benefits. But you may be curious — how much exactly can you help the environment by making the switch to solar? Using renewable energy for electricity instead of relying on nonrenewable energy sources is a great way to reduce your carbon footprint if you're worried about Albany's fair level of greenhouse gas emissions. Since solar panels don't release carbon dioxide emissions into the atmosphere when generating electricity, they're a good trade for nonrenewable energy sources. In fact, you could look forward to lowering your carbon dioxide emissions by about 20 pounds each year. The perks of solar power are abundant — just like solar power is! That's why so many people have been happy with using solar energy.