14 Best Solar Companies in Lower Merion, PA (Aug 2022 Review)

The Cost and Benefits of Solar in Lower Merion

For many people, the decision of which solar company to choose comes down to total costs. The installation cost is just one important factor you should keep in mind when looking into installing solar panels. How much it'll cost and how much you can save depend on things such as:

• Your current electricity bills: Solar panels can dramatically reduce, or entirely eradicate, your utility bills. In Lower Merion, you can save an average of $89 a month.
• How much power your home consumes: Homes that need plenty of electricity each month may require more solar panels and, therefore, more upfront cost, but will also save more on their energy bills over time.
• Incentives: One thing that can make your solar project cost less 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 a decent amount of money on your power bills, which can generate an average of $15,000 of savings over 20 years.
• Choice of solar panels: The kind of solar panels you buy will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also save you more money over the lifetime of your system. If you don't need to maximize efficiency, you can go with a higher number of more affordable panels.

Thanks to the cost of solar panels being lower than before as well as local and federal solar incentives, they are a solid investment for most homeowners.

Solar Incentives in Lower Merion

Switching to solar power has a lot of great benefits. Not only can it help protect the environment, but you can also save some money on your installation with various government incentives. When you install solar panels on your home, you become eligible to claim the federal tax credit, or ITC. This credit currently reduces your tax bill by 26% of the cost of your solar panels. In addition, there are often some state and city incentives that you can benefit from to further save. Check out the table below to find out what incentives are available to you.

Environmental Impact of Switching to Solar in Lower Merion

An important reason so many consider adopting solar energy is to help bring down their environmental impact. You may be asking yourself — how much does going solar help the planet anyway? Using solar energy for electricity in place of burning fossil fuels is a good way to reduce your carbon footprint if you want to help reduce Lower Merion's fair level of greenhouse gas emissions. In Lower Merion, the average resident can lower their carbon footprint by 50 pounds a year after going solar. As you can see, investing in solar has so many other rewards apart from saving money. One of the primary ones is that you can help save the environment too.