18 Best Solar Companies in Inwood, NY (Mar 2023 Review)

The Cost and Benefits of Solar in Inwood

The cost of installing solar panels has gone down greatly in the past few years, but it's still a large investment for most homeowners. The installation cost is just one important factor you should keep in mind when looking into getting solar panels. How much it'll cost and how much you can save depend on things such as:

• The model of solar panel system you can buy: This depends on your income and budget.
• Electricity consumption: The average household in Inwood doesn't use much energy, and consequently may not see as many savings on their power bills.
• Average daily sunlight: Since Inwood gets a decent amount of average daily sunlight, your solar panels can generally produce enough energy to power your whole home, which impacts how much your solar panels can save you on your electricity bills.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 30% of your overall installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Not including incentives, you can save an average of $28,000 over the first 20 years with your solar panels, too.

Even though a solar panel system costs a sizable chunk of money upfront, it can save you a considerable amount over the lifespan of your panels. The question of how much, though, depends on a number of factors, like the amount of daily direct sunlight available and your current power bills.

Solar Incentives in Inwood

One of the good things about installing a solar panel system is receiving federal and potentially state incentives. Local solar incentives depend on the location and, sometimes, utility company. A lot of states offer rebates for home solar power systems, in addition to the federal solar tax credit. You can learn about the incentives you can use in our article on solar incentives

Environmental Impact of Switching to Solar in Inwood

There are a few primary reasons why many people are interested in solar energy: for the good of their bank accounts and the planet. But — how much exactly can you help the planet by going solar? In a city like Inwood where energy use is somewhat high, going solar is a good plan for people who care about the planet. In fact, if you install solar panels, you could expect to reduce your carbon dioxide emissions by about 50 pounds each year. Since solar power is plentiful and makes electricity without a carbon footprint, installing solar panels is one easy step you can take to help protect the planet.