12 Best Solar Companies in Lincoln, RI (Aug 2022 Review)

The Cost and Benefits of Solar in Lincoln

While solar panels can help save you a good amount of money on power bills over time, it's important to know the startup costs. There are a few factors you should consider when determining costs and your potential savings, including:

• System size and type: Some models are more costly than others, so the one you want can raise or lower your initial investment. Plus, the more solar panels you need to buy, the more it'll cost.
• Your energy bills: This will affect your savings. In Lincoln, the average homeowner can save about $880 a year on their electricity bills.
• How much electricity your household consumes: Homes that need a lot of electricity each month may require more solar panels and, consequently, more upfront cost, but will also save more on their energy bills over time.
• Incentives: The federal solar investment tax credit currently lets you decrease your taxes by 26% of the project cost. Your state may also have various incentives that you can take advantage of. Additionally, you can save about $20,000 over 20 years on your utility bills, before factoring in incentives.

So is installing solar panels worth it? Whether you'd like to reduce your electric bills, carbon dioxide emissions or both, solar panels are a good investment for many Lincoln homeowners.

Solar Incentives in Lincoln

Adopting solar power has many great benefits. Not only can it help preserve the environment, but you can also save a good amount of money on your installation with various government incentives. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which will let you claim 26% of how much you paid for your solar installation on your tax return, lowering the amount of taxes you owe that year. Plus, there may be some local incentives you can benefit from too. In the table below, you can see the incentives you qualify for in Lincoln.

Environmental Impact of Switching to Solar in Lincoln

There are tons of reasons to make the switch to solar energy, like saving some money on electricity bills and helping to lower your carbon footprint. Something many might be wondering about is how much can they really help save the environment by switching to solar power anyway? One thing you should consider is your overall carbon footprint. For example, if you have a long commute time and have an electric vehicle, you can use solar energy for your home to power your EV and therefore help offset your carbon emissions. In fact, if you adopt solar power, you could expect to reduce your carbon dioxide emissions by about 40 pounds each year. The advantages of solar power are abundant — just like solar power is! That's why so many homeowners have been happy with making the switch to solar.