14 Best Solar Companies in Lincoln Village, OH (Feb 2023 Review)

The Cost and Benefits of Solar in Lincoln Village

Even though solar panels can help save you a good amount of money on electricity bills over time, it's important to consider the startup costs. Some key things that influence the upfront cost and potential savings over time include:

• How much you spend on energy: If your local electricity rates are quite high, there's a better chance you'll see a higher return on your investment in a solar panel system. In Lincoln Village, you can save an average of $111 a month on your electricity bills.
• Incentives: The federal solar investment tax credit, which everyone qualifies for, lets you deduct 30% of the cost of installing your solar panel system from your taxes. In addition, not including incentives, you can save about $17,000 over 20 years on your energy bills.
• System size and type: Some models are more expensive than others, so the one you get can raise or lower your initial investment. Plus, the more solar panels you need, the more it'll cost.
• The amount of sunlight your roof gets: If your rooftop gets limited direct sunlight, your solar panels won't be able to generate as much energy, which will leave you with lower savings on electricity bills than a house with a roof that gets lots of sunlight.

Because of solar panels decreasing in cost as well as local and federal solar incentives, they are a cost-effective investment for the majority of homeowners.

Solar Incentives in Lincoln Village

If you're planning on making the switch to solar energy, various government incentives and subsidies can dramatically bring down the installation costs and expedite the return on your investment. When you install solar panels on your home, you can claim the federal tax credit, or ITC. This credit currently lets you reduce 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 comprehensive information about local incentives, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Lincoln Village

An important reason so many homeowners are thinking of switching to solar power is to help lower their environmental impact. You may be asking yourself — how much do solar panels help the environment anyway? If your household consumes a lot of energy, you can help the environment even more by switching to solar power. Since solar panels don't release CO2 emissions into the atmosphere when generating electricity, they're a good substitute for traditional energy sources. In fact, you could look forward to lowering your carbon dioxide emissions by about 90 pounds each year. For homeowners who are worried about the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.