14 Best Solar Companies in Lake Carmel, NY (Sep 2022 Review)

The Cost and Benefits of Solar in Lake Carmel

Although solar panels can help save you a decent chunk of change on power bills over time, it's necessary to consider the upfront costs. There are several factors you should take into consideration when determining costs and your potential savings, including:

• Your household's power bills: Due to high monthly energy bills in Lake Carmel, you could save about $740 a year with solar.
• The amount of sunlight your home gets: Thanks to Lake Carmel's high amount of average daily sunlight, you should be able to save a decent amount on your power bills.
• Incentives: Tax-paying citizens who buy and install a solar energy system this year can save 30% of their total solar spend by using the federal solar investment tax credit. You can also save about $16,000 on your energy bills over 20 years not including incentives.
• The model of solar panels you want to get: More efficient panels have higher prices, so that will influence your budget for your solar project.

Although a solar panel system costs a sizable chunk of money upfront, it can save you much more over the lifespan of your panels. The question of how much, though, depends on a number of factors, including the angle of your roof and your local electricity rates.

Solar Incentives in Lake Carmel

There are many reasons why you should switch to solar. One of them involves some government incentives that can help save you some money. Regardless of what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will let you claim 30% of how much you paid for your solar installation on your tax return, lowering the amount of taxes you owe that year. Additionally, there may be some state and city incentives that can save you some extra money too. The table below tells you about the incentives you can benefit from in Lake Carmel.

Environmental Impact of Switching to Solar in Lake Carmel

One of the best reasons to use solar power is to decrease your dependence on nonrenewable energy sources like burning fossil fuels, which are harmful for the environment. A question many homeowners might have in mind is how much can they really help the environment by going solar anyway? In a city like Lake Carmel where commute times can be very long, going solar can help offset some of your carbon dioxide emissions from being on the road a lot. Because solar panels don't release carbon dioxide emissions into the atmosphere when producing electricity, they're a good trade for nonrenewable energy sources. In fact, you could be looking at reducing your carbon dioxide emissions by about 20 pounds each year. As you can see, investing in solar has so many other perks beyond saving money. One of the major ones is that you can help save the Earth too.