17 Best Solar Companies in Elwood, NY (2023 Reviews)

The Cost and Benefits of Solar in Elwood

Even though solar panels can save you money on utility bills over time, it's necessary to consider the startup costs. Some important things that influence the upfront cost and potential savings over time include:

• Your energy bills: This will affect how much you can save. In Elwood, the average resident can save about $900 a year on their electricity bills.
• The type of solar panels you can buy: This hinges on your income and budget.
• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, lets you deduct 30% of the cost of your solar system installation from your taxes. Additionally, not including incentives, you can save about $22,000 over 20 years on your energy bills.
• Your location: This influences how much sunlight your roof receives, which helps determine how many panels you need.

Even though a solar panel system costs a sizable chunk of money upfront, it can save you thousands of dollars over time. The question of how much, though, depends on a number of factors, such as the size of your house and your local electricity rates.

Solar Incentives in Elwood

There are a lot of reasons why going solar is a great investment. One of them includes some government incentives you can take advantage of. When you install a solar panel system on your house, you can take advatage of the federal tax credit, or ITC. This credit currently lets you lower your tax bill by 30% of the cost of your solar panels. Plus, there are often some state and city incentives that you can benefit from to further cut back on the cost of solar of solar panels. Take a look at our article on solar incentives to see what incentives are available to you.

Environmental Impact of Switching to Solar in Elwood

Many want to do their part to help the environment, which often is the main reason for installing a solar system. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Elwood, though. Your energy usage is a significant factor to consider. The more energy your home uses, the bigger your impact when you go solar. While making solar panels releases carbon dioxide emissions, the panels make up for it by significantly decreasing the amount of CO2 you would have produced if you still used nonrenewable energy. In Elwood, you can reduce your carbon footprint by 100 pounds a year with solar panels. Since solar energy is plentiful and produces electricity without releasing carbon emissions, making the switch to solar power is one easy step you can take to help preserve the planet.