9 Best Solar Companies in Lafayette, NY (Aug 2022 Review)

The Cost and Benefits of Solar in Lafayette

When picking a solar company, most homeowners or business owners think about the costs the most. Some significant things that affect the upfront cost and potential savings over time include:

• The cost of energy for you: If your local power rates are high, there's a better chance you'll get a higher return on your investment in solar panels. In Lafayette, you can save an average of $53 a month on your electricity bills.
• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, allows you to deduct 26% of the cost of installing your solar panel system from your taxes. Plus, not including incentives, you can save about $13,000 over 20 years on your energy bills.
• The kind of solar panels you can afford: This depends on your income and budget.
• Energy consumption: Solar may be too steep of an option for families that don't consume a good amount of energy per month.

So is installing solar panels worth it? Whether you'd like to decrease your electric bills, carbon emissions or both, solar panels are a solid investment for many Lafayette homeowners.

Solar Incentives in Lafayette

Because solar power is more sustainable than burning fossil fuels, there are various government incentives in place to encourage people to make the switch. Regardless of what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which lets you claim 26% of how much your solar project cost on your tax return, reducing the amount of taxes you owe that year. Plus, there may be some local incentives you can benefit from too. Check out the table below to see what incentives you can benefit from.

Environmental Impact of Switching to Solar in Lafayette

A lot of people want to do what they can to help protect the planet, which for many is the prime reason for installing solar panels. You may be curious — how much do solar panels do for the planet anyway? Adopting solar power is an impactful choice for the environment, because the largest source of greenhouse gas emissions in the country is from burning fossil fuels for electricity, heat, and transportation — all of which can be powered by solar instead. Because solar panels don't release CO2 emissions into the atmosphere when producing electricity, they're a good alternative to traditional energy sources. In fact, you could reduce your carbon dioxide emissions by about 20 pounds each year. Since solar energy is renewable and produces electricity without free from carbon dioxide emissions, adding solar panels to your home is one easy step you can take to help preserve the environment.