16 Best Solar Companies in Owego, NY (Sep 2022 Review)

The Cost and Benefits of Solar in Owego

Even though solar panels can help save you a decent chunk of change on utility bills over time, it's important to consider the upfront costs. There are a few factors you should consider when determining costs and your potential savings, such as:

• How much sunlight your roof gets: If your roof gets limited direct sunlight, your solar system won't be able to produce as much energy, which will give you lower savings on power bills than someone with a roof that gets lots of sunlight.
• The model of solar panels you're thinking of getting: More efficient models are more costly, so that will influence your budget for your solar project.
• Energy consumption: Installing solar panels may be a high-cost option for households that don't consume a lot of energy a month.
• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, allows you to deduct 30% of the cost of your solar system installation from your taxes. Additionally, not including incentives, you can save about $12,000 over 20 years on your energy bills.

Though a solar panel system costs a good chunk of money upfront, it can save you thousands of dollars over the lifespan of your panels. The question of how much, though, depends on several factors, such as the amount of daily direct sunlight available and your local electricity rates.

Solar Incentives in Owego

Although solar power is typically a $15,000 to $25,000 investment, it can save you a significant amount of money in the long term due to reduced power bills and government incentives. When you install a solar panel system on your home, you become eligible to claim the federal tax credit, or ITC. This credit currently lets you lower your tax bill by 30% of the cost of your solar panels. Plus, there may often be some state and city incentives that you can take advantage of to further cut back on the cost of solar of solar panels. For more information about local incentives, check out the table below.

Environmental Impact of Switching to Solar in Owego

If you're considering adding solar panels to your home, one of the major reasons why may be to reduce your greenhouse gas emissions. But — how much exactly can you help by going solar? A key thing to think about is your overall carbon footprint. For example, if your commute is very long, your footprint may be larger, so switching to solar energy for your house can help offset that. In fact, if you install solar panels, you could lower your carbon dioxide emissions by about 20 pounds each year. The good things about solar power are infinite — just like solar power is! That's why so many Owego residents have been happy with committing to solar.