18 Best Solar Companies in Greenville, RI (Aug 2022 Review)

The Cost and Benefits of Solar in Greenville

The cost of putting up a solar panel system has dropped greatly over the past few years, but it's still a significant investment for most homeowners. The cost and possible savings vary depending on some key factors such as:

• Electricity consumption: The average home in Greenville doesn't use much energy, and consequently may not see as many savings on their power bills.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 26% of your overall installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Excluding incentives, you can save an average of $20,000 over the first 20 years with your solar panels, too.
• System size and type: Some models are more pricy than others, so the one you decide on can raise or lower your upfront cost. Plus, the more solar panels you need to get, the more it'll cost.
• How much you spend on energy: The typical household in Greenville spends around $880 a year on home energy use alone, so you could gain that much in savings.

There are lots of great benefits of solar despite the upfront cost of installation. It can help the environment and your wallet. Additionally, it can increase the value of your home, leading to even more benefits if you decide to sell your home later.

Solar Incentives in Greenville

Although a solar power system is typically a $15,000 to $25,000 investment, it can save you a substantial amount of money over the lifespan of your solar panels because of lower power bills and 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 potentially pair the ITC with other state and city incentives. You can find out about the incentives available to you in the table below.

Environmental Impact of Switching to Solar in Greenville

One of the best reasons to embrace solar energy is to cut your reliance on nonrenewable energy sources like burning fossil fuels, which are harmful for the environment. You may be asking yourself — how much does going solar do for the environment anyway? The EPA reports that electricity generation is the second largest source of greenhouse gas emissions and about 62% of our electricity is generated by burning fossil fuels. Installing solar panels and switching to renewable energy can help lower that number in a city like Greenville that generates a fair amount of carbon dioxide emissions each year. In fact, if you make the switch to solar power, you could lower your carbon dioxide emissions by about 40 pounds each year. As you can see, trading traditional energy for solar has so many other rewards besides saving money. One of the primary ones is that you can help save the environment too.