15 Best Solar Companies in Lexington, OH (Feb 2023 Review)

The Cost and Benefits of Solar in Lexington

The cost of putting up solar panels has gone down significantly over the past several years, but it's still a significant investment for most homeowners. Some main factors that affect the cost of installing a solar panel system on your home and how much money you could save over time include:

• System size and type: Some models are more pricy than others, so the one you choose can raise or lower your initial investment. Plus, the more solar panels you need to get, the more it'll cost.
• Your power bills: This will affect how much money you might save. In Lexington, the average homeowner can save about $1,100 a year on their electricity bills.
• Incentives: The federal solar investment tax credit currently allows you to lower your taxes by 30% of the project cost. Your state and even local utility companies may also have incentives and rebates that you can use. Additionally, you can save about $13,000 over 20 years on your utility bills, before factoring in incentives.
• How much energy you use: If your home needs to use a lot of energy, you'll benefit more from installing solar panels.

Solar is a rewarding investment for most homeowners. You can make your own power instead of paying for it from a utility company and benefit from solar incentives and rebates, all while helping preserve the planet.

Solar Incentives in Lexington

Switching to solar power has plenty of considerable benefits. Not only can it help protect the planet, but you can also save a good amount of money on your installation with various government incentives. You qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your solar panels. You can also possibly pair the ITC with other local incentives. Our article on solar incentives has more information on the incentives you can benefit from in Lexington.

Environmental Impact of Switching to Solar in Lexington

One of the best reasons to use solar power is to reduce your dependence on nonrenewable energy sources like burning fossil fuels, which are harmful for the environment. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Lexington, though. Your energy usage is a key factor to consider. The more energy your home uses, the larger your impact when you switch to solar energy. In fact, if you install solar panels, you could expect to reduce your carbon dioxide emissions by about 80 pounds each year. For homeowners who are concerned about the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.