15 Best Solar Companies in Madison, OH (Aug 2022 Review)

The Cost and Benefits of Solar in Madison

We get that for lots of homeowners, the decision to invest in solar rests on installation costs. There are several factors you should consider when trying to figure out costs and your potential savings, including:

• Incentives: Something that can reduce the cost of your solar project is the solar investment tax credit (ITC), which is a tax credit that's equal to a percentage of the project cost. You can also save on your utility bills, which can give you an average of $17,000 of savings over 20 years.
• Your income and budget: This affects what type of solar panels you can afford.
• Your current electricity bills: Solar panels can significantly decrease, or entirely eradicate, your utility bills. In Madison, you can save an average of $110 a month.
• Typical energy usage: The more energy your household consumes on average and the greater your current energy bills are, the more likely you'll benefit from going solar.

Though a solar panel system costs a sizable 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 a number of factors, including the amount of daily direct sunlight available and your local electricity rates.

Solar Incentives in Madison

Because solar power is better for the environment than fossil fuels, there are a number of government incentives in place to encourage people to make the switch. State and city solar incentives vary by location and, sometimes, utility company. A lot of states offer rebates for solar panels, in addition to the federal solar tax credit. Take a look at the table below to see what incentives are available to you.

Environmental Impact of Switching to Solar in Madison

There are tons of reasons to trade traditional energy for solar power, like saving money on electricity bills and helping to reduce your carbon footprint. You may be curious — how much do solar panels help the planet anyway? If your household uses a lot of energy, you can have an even greater impact on the planet by switching to solar power. While solar panel production emits carbon dioxide, the panels make up for it by significantly reducing the amount of CO2 you would have been responsible for if you still used nonrenewable energy. In Madison, you can reduce your carbon footprint by 90 pounds a year with solar panels. For homeowners who care about the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.