10 Best Solar Companies in Olean, NY (Aug 2022 Review)

The Cost and Benefits of Solar in Olean

For most homeowners, the decision to invest in a solar energy system depends the most on the cost. A few important factors that affect how much it will cost to install solar panels on your home and how much it could save you over time include:

• Electricity consumption: The average home in Olean doesn't use much energy, and consequently may not see as many savings on their power bills.
• The cost of energy for you: If your local utility rates are high, there's a better chance you'll get a higher return on your investment in a solar panel system. In Olean, you can save an average of $56 a month on your electricity bills.
• Choice of solar panels: The kind of solar panels you choose will affect your total cost. High-efficiency monocrystalline panels will cost more 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: Something that can save you money on your solar project is the solar investment tax credit (ITC), which is a tax credit that's equal to a percentage of the project cost. You can also save money on your energy bills, which can generate an average of $14,000 of savings over 20 years.

So is installing solar panels worth it? Whether you hope to decrease your electricity costs, carbon emissions or both, solar panels are a great investment for many Olean homeowners.

Solar Incentives in Olean

Since solar power is a cleaner source of energy than traditional energy sources, there are a number of government incentives available to encourage people to make the switch. In addition to the federal tax credit incentive, there are also some state- and city-level programs, which in most cases, can be claimed in addition to the federal incentive, so you get to save even more. Check out the table below to find out what incentives are available to you.

Environmental Impact of Switching to Solar in Olean

There are a few key reasons why people are interested in solar energy: for the financial and environmental benefits. A question many homeowners might be thinking about is how much can they really help the environment by going solar anyway? For homeowners who are environmentally-conscious, going solar is an easy choice, especially since Olean produces a fair amount of carbon dioxide emissions from its energy generation. Once you go solar, your carbon dioxide emissions can be reduced by about 20 pounds a year. The perks of solar power are abundant — just like solar power is! That's why so many people have been happy with using solar energy.