13 Best Solar Companies in Medford, NY (Aug 2022 Review)

The Cost and Benefits of Solar in Medford

For many people considering switching to solar, the decision of which solar installer to choose comes down to costs. The cost of solar and the savings it generates vary depending on some important factors such as:

• Typical energy usage: The more power your household uses on average and the greater your current power bills are, the more money you could save by making the switch to solar.
• How much you spend on energy: The average family in Medford shells out around $900 a year on power alone, so you could end up with that much in savings.
• Choice of solar panels: The type of solar panels you need will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also lead to more savings over the lifetime of your system. If you don't need to maximize efficiency, you can go with a higher number of more affordable panels.
• Incentives: Tax-paying citizens who purchase and install a solar system this year can save 26% of their total solar spend by using the federal solar investment tax credit. You can also save about $22,000 on your electricity bills over 20 years not including incentives.

There are several good benefits of solar in spite of the upfront cost of installation. It can help the Earth and your bank account. In addition, it can boost the value of your home, leading to even more benefits if you choose to sell your home later.

Solar Incentives in Medford

Although a solar power system is typically a $15,000 to $25,000 investment, it can save you a considerable amount of money in the long term due to lower power bills and government incentives. When you install solar panels on your house, you can claim the federal tax credit, or ITC. This credit currently lets you lower your tax bill by 26% of the cost of your solar panels. Additionally, there are often some regional incentives that you can benefit from to further save. The table below lets you know about the incentives you can benefit from in Medford.

Environmental Impact of Switching to Solar in Medford

One of the most compelling reasons to tap into solar energy is to reduce your reliance on nonrenewable energy sources like burning fossil fuels, which are harmful for the environment. But how much can using solar energy instead of traditional energy actually affect the environment? The average person has a rather large carbon footprint. Between their car, which releases over 10,000 pounds of carbon dioxide emissions each year, and energy for their home, it can be overwhelming to think about what to do. Installing solar panels is one of the easiest things you can do to help. In Medford, the average household can lower their carbon footprint by 100 pounds a year once they go solar. For those who are worried about the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.