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

The Cost and Benefits of Solar in Waterloo

The cost of installing solar panels has gone down greatly in the past few years, but it's still a large investment for most homeowners. The cost of solar and the savings it generates vary depending on a few important factors such as:

• Your household's power bills: Due to high monthly electricity bills in Waterloo, you could save about $590 a year with solar.
• The kind of solar panels you can buy: This hinges on how much you're willing to spend upfront.
• Average daily sunlight: Since Waterloo doesn't get a lot of average daily sunlight, your solar system may not be able to generate enough energy to power your whole home, which influences how much you can save on your energy bills.
• Incentives: The federal solar investment tax credit currently allows you to decrease your taxes by 30% of the project cost. Your state may also have incentives and rebates that you can benefit from. Plus, you can save about $12,000 over 20 years on your utility bills, before factoring in incentives.

Although a solar panel system costs a good chunk of money upfront, it can save you much more over time. The question of how much, though, depends on several factors, including the angle of your roof and incentives.

Solar Incentives in Waterloo

Adopting solar power has many great benefits. Not only can it help protect the environment, but you can also save a decent amount of money on your installation with various government incentives. 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 your solar project cost when you file taxes, reducing 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. For comprehensive information about incentives for homeowners in Waterloo, see the table below.

Environmental Impact of Switching to Solar in Waterloo

There are a few big reasons why people are considering solar energy: to put more money in their bank account and to help the planet. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Waterloo, though. In a place like Waterloo where commute times can be long sometimes, using solar power can help offset some of your carbon dioxide emissions from being on the road a lot. Although solar panel manufacturing emits carbon dioxide, the panels make up for it by greatly decreasing the amount of CO2 you would have released if you still used traditional energy. In Waterloo, you can reduce your carbon footprint by 20 pounds a year with solar panels. If you want to do your part for the environment, you'll likely get that there are many advantages to adopting solar power other than just saving money on bills. You can also help protect the environment, which some would argue is invaluable.