11 Best Solar Companies in Providence, RI (Jul 2022 Review)

The Cost and Benefits of Solar in Providence

We know that for many homeowners, the choice to invest in solar hinges on installation costs. Some key things that determine how much it will cost and how much you could save include:

• How much electricity your household consumes: Households that need lots of power each month may call for more solar panels and, therefore, be more expensive, but will also save more on their energy bills over time.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you deduct 26% of your overall installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Aside from incentives, you can save an average of $20,000 over 20 years with your solar system, too.
• Choice of solar panels: The kind of solar panels you choose will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also lead to more savings 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.
• Your home's power bills: Based on the high monthly electricity bills in Providence, you could save about $880 a year with solar.

Solar is a profitable investment for most homeowners. You can produce your own electricity instead of paying for it from the grid and benefit from solar incentives and rebates, all while helping the Earth.

Solar Incentives in Providence

Although solar power is typically a large investment, it can save you a considerable amount of money over the lifespan of your solar panels due to smaller power bills and government incentives. Regardless of where you live, you can take advantage of the federal Solar Investment Tax Credit (ITC), which allows you to claim 26% of how much your solar project cost on your tax return, lowering the amount of taxes you owe that year. In addition, there may be some local incentives that stack with the ITC too. For more information about local incentives, check out the table below.

Environmental Impact of Switching to Solar in Providence

There are a few main reasons why many people are considering solar energy: to put more money in their bank account and to help the planet. Something many people might have in mind is how much can they really help protect the environment by switching to solar power anyway? The average person has a considerable carbon footprint. Between their car, which releases over 10,000 pounds of carbon dioxide emissions a year, and powering their home, it can be overwhelming to figure out what to do. Using solar power is a simple thing you can do to help. When you go solar, your carbon footprint can be lowered by about 40 pounds every year. If you want to do your part for the environment, you'll no doubt get that there are many good things about adopting solar power other than just saving money on electricity. You can also help protect the environment, which some would argue is priceless.