11 Best Solar Companies in Elgin, TX (Oct 2022 Review)

The Cost and Benefits of Solar in Elgin

For most homeowners, the decision to invest in solar energy boils down to the cost. The installation cost is just one important factor you should bear in mind when looking into getting solar panels. How much it'll cost and how much you can save depend on things including:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total installation cost, your state or local government may offer additional tax exemptions, credits or rebates that can help you save even more. Excluding incentives, you can save an average of $19,000 over 20 years with your solar system, too.
• The amount of sunlight your home gets: Thanks to Elgin's very high amount of average daily sunlight, you should be able to save a lot on your energy bills.
• System size and type: Some models are more costly than others, so the one you want can raise or lower your upfront cost. Plus, the more solar panels you need, the more it'll cost.
• Energy consumption: Installing a solar system may be a high-cost option for households that don't need a good amount of energy each month.

Solar is a fruitful investment for most homeowners. You can generate your own energy instead of paying for it from a utility company and make use of solar incentives, all while helping preserve the environment.

Solar Incentives in Elgin

If you're thinking about switching to solar energy, several government incentives and tax credits can immensely reduce the installation costs and speed up the return on your investment. Regardless of what state you live in, you can take advantage of the federal Solar Investment Tax Credit (ITC), which lets you claim 30% of your project costs when you file taxes, lowering the amount of taxes you owe that year. Plus, there may be some local incentives that can save you some extra money too. The table below shows you the incentives you can take advantage of in Elgin.

Environmental Impact of Switching to Solar in Elgin

Going solar can have a beneficial effect on the environment. A question many homeowners might be asking themselves is how much can they really help the environment by switching to solar power anyway? One thing that can drastically shape your carbon footprint is your commute time and how much you drive generally. If you switch to solar power and drive an electric car, you can significantly lower your carbon dioxide emissions by charging your car at home. Since solar panels don't release carbon dioxide emissions into the atmosphere when creating electricity, they're a good alternative to traditional energy sources. In fact, you could be looking at reducing your carbon dioxide emissions by about 80 pounds each year. If you care about the environment, you'll most likely get that there are many benefits of adopting solar energy other than just saving money on bills. You can also help preserve the environment, which some would argue is priceless.