18 Best Solar Companies in Florence, SC (Jun 2022 Review)

The Cost and Benefits of Solar in Florence

For many homeowners, the decision to invest in solar energy comes down to the cost. Some key factors that affect how much it will cost to install a solar panel system on your home and how much money you could save over time include:

• The model of solar panel system you have the money for: This is dependent on what your budget is.
• How much power your household needs: If your home needs to use a lot of energy, you'll see more savings from installing solar panels.
• How much sunlight your roof gets: If your roof doesn't get a lot of direct sunlight, your solar panel system won't be able to make as much energy, which will leave you with lower savings on energy bills than a house with a roof that gets a lot of sunlight.
• Incentives: Something that can save you money on your solar project 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 money on your utility bills, which can result in an average of $21,000 of savings over 20 years.

So is installing solar panels worth it? Whether you want to lower your electricity costs, carbon dioxide emissions or both, solar panels are a solid investment for many Florence homeowners.

Solar Incentives in Florence

Although solar power is typically a $15,000 to $25,000 investment, it can save you a considerable amount of money over time because of reduced energy bills and government incentives. Everyone can take advantage of the federal Solar Investment Tax Credit (ITC), which lets you claim 26% of your project costs when you file taxes, reducing the amount of taxes you owe that year. In addition, there may be some state and city incentives that stack with the ITC too. The table below lets you know about the incentives you can take advantage of in Florence.

Environmental Impact of Switching to Solar in Florence

Going solar can have a meaningful impact on the environment. But how much can installing solar panels actually affect the environment? Everyone can help protect the environment by switching to solar energy, but homes that consume a lot of energy will have an even bigger impact. In fact, if you make the switch to solar power, you could reduce your carbon dioxide emissions by about 60 pounds each year. For people who are concerned about the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.