17 Best Solar Companies in Lake, OH (Oct 2022 Review)

The Cost and Benefits of Solar in Lake

We get that for many homeowners, the decision to invest in solar comes down to installation costs. Some main factors that influence the cost of installing a solar panel system on your home and how much it could save you over time include:

• Incentives: Those who purchase and install a solar system this year can save 30% of their total solar spend by taking advantage of the federal solar investment tax credit. You can also save about $13,000 on your energy bills over 20 years excluding incentives.
• The amount of sunlight your rooftop gets: Because of Lake's relatively low amount of average daily sunlight, you might not see as many savings on your electricity bills.
• How much energy you use: If your home regularly uses a lot of energy, you'll reap more rewards from switching to solar.
• Your income and budget: This affects what type of solar panels you can buy.

Although a solar panel system costs a decent 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, such as the angle of your roof and incentives.

Solar Incentives in Lake

To increase solar panel installation and usage, federal, state and local governments — and even some utility companies — offer incentives to help make solar power more affordable and accessible. These incentives usually include cash rebates, tax breaks and/or performance-based incentives. They can reduce how much you end up spending on installing solar panels by 26 to 50% in some cases. You can find out about the incentives available to you in the table below.

Environmental Impact of Switching to Solar in Lake

Replacing nonrenewable energy with solar power is a compelling way to do what you can for a more sustainable future. You may be wondering — how much does going solar do for the planet anyway? The more power your household uses, the better off the planet will be when you switch to solar as you won't have to rely on traditional energy sources as much. In fact, if you install solar panels, you could lower your carbon dioxide emissions by about 80 pounds each year. For homeowners who care about the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.