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

The Cost and Benefits of Solar in Portsmouth

Although solar panels can save you a decent chunk of change on utility bills over time, it's necessary to consider the startup costs. Some key factors that determine the cost of installing a solar panel system on your home and how much money you could save over time include:

• The model of solar panel system you can afford: This hinges on what your budget is.
• How much you spend on energy: The average household in Portsmouth shells out around $880 a year on home energy use alone, so you could be looking at that much in savings.
• Incentives: Something that can make your solar project cost less is the solar investment tax credit (ITC), which is a tax credit that lets you deduct from your taxes a percentage of the project cost. You can also save a decent amount of money on your utility bills, which can generate an average of $21,000 of savings over 20 years.
• Electricity consumption: The average home in Portsmouth doesn't use much energy, and as a result may not see as many savings on their power bills.

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

Solar Incentives in Portsmouth

Although installing solar panels is typically a $15,000 to $25,000 investment, it can save you a lot of money over the lifespan of your solar panels because of reduced power bills and government incentives. State and city solar incentive programs vary by location and, sometimes, utility company. A lot of states offer rebates for home solar power systems, in addition to the federal solar tax credit. In the table below, you can find out about the incentives you qualify for in your area.

Environmental Impact of Switching to Solar in Portsmouth

One of the most compelling reasons to use solar energy is to reduce your reliance on traditional energy sources like burning fossil fuels, which are harmful for the environment. A question many people might have in mind is how much can they really help preserve the environment by switching to solar power anyway? One thing to consider is your overall carbon footprint. For example, if you spend lots of time commuting to work and have an electric vehicle, you can use solar energy for your home to power your EV and therefore help offset your carbon emissions. After you go solar, your carbon dioxide emissions can be cut by about 40 pounds each year. If you want to do what you can for the environment, you'll no doubt recognize that there are many good things about adopting solar power other than just saving money on electricity. You can also help preserve the environment, which some would argue is priceless.