13 Best Solar Companies in Lakeway, TX (Mar 2023 Review)

The Cost and Benefits of Solar in Lakeway

We understand that for lots of homeowners, the choice to invest in solar comes down to installation costs. The installation cost is just one important factor you should keep in mind when looking into getting solar panels. How much it'll cost and how much you can save depend on things including:

• System size and type: Some models are more pricy than others, so the one you choose can raise or lower your upfront cost. Plus, the more solar panels you need to get, the more it'll cost.
• The amount of sunlight your roof gets: If your roof doesn't get a lot of direct sunlight, your solar system won't be able to produce as much energy, which will give you lower savings on power bills than a house with a roof that gets a lot of sunlight.
• Incentives: The federal solar investment tax credit currently lets you decrease your taxes by 30% of the project cost. Your state and even local utility companies may also have various incentives that you can benefit from. Plus, you can save about $18,000 over 20 years on your utility bills, before factoring in incentives.
• average energy usage: The more power your household consumes on average and the larger your current power bills are, the more likely you'll benefit from switching to solar.

Though a solar panel system costs a good chunk of money upfront, it can save you thousands of dollars over time. The question of how much, though, depends on a number of factors, including the size of your house and your energy consumption.

Solar Incentives in Lakeway

There are lots of reasons why adopting solar power is beneficial. One of them includes some government incentives that can help save you some money. When you install solar panels on your house, you can take advatage of the federal tax credit, or ITC. This credit currently lets you reduce your tax bill by 30% of the cost of your solar panels. Plus, there are often some state and city incentives that you can use to further cut back on the cost of solar of solar panels. For detailed information about incentives that apply to you, see our our article on solar incentives.

Environmental Impact of Switching to Solar in Lakeway

One reason so many people consider adopting solar energy is to help bring down their environmental impact. But how much can using solar energy instead of traditional energy actually help the environment? In a city like Lakeway where energy use is particularly high, installing solar panels is a great plan for people who want to do their part for the environment. In Lakeway, the average resident can reduce their carbon footprint by 80 pounds a year after going solar. For those who want to help the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.