13 Best Solar Companies in The Colony, TX (Jan 2023 Review)

The Cost and Benefits of Solar in The Colony

Solar panels run off a free energy source — the sun — but to take advantage of this you will need to pay to set up your panels. The cost and possible savings vary depending on some key factors such as:

• Energy consumption: Solar may be an expensive option for households that don't consume a good amount of energy per month.
• The kind of solar panels you want to get: More efficient panels are more costly, so that will influence your budget for your solar project.
• Incentives: One thing that can save you money on your solar project is the solar investment tax credit (ITC), which is a tax credit that's equal to a percentage of the project cost. You can also save on your energy bills, which can give you an average of $18,000 of savings over 20 years.
• The amount of sunlight your roof gets: If your rooftop gets limited direct sunlight, your solar panels won't be able to generate as much energy, which will give you lower savings on power bills than someone with a roof that gets a lot of sunlight.

Even though a solar panel system costs a good chunk of money upfront, it can save you a considerable amount over the lifespan of your panels. The question of how much, though, depends on several factors, such as the angle of your roof and incentives.

Solar Incentives in The Colony

If you're considering switching to solar energy, several government incentives and tax credits can drastically bring down your project costs and expedite 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 how much you paid for your solar installation on your tax return, lowering the amount of taxes you owe that year. Additionally, there may be some state and city incentives that can save you some extra money too. For more information about local incentives, see our our article on solar incentives.

Environmental Impact of Switching to Solar in The Colony

There are many reasons to make the switch to solar energy, like saving some money on electricity bills and helping to lower your carbon footprint. A question many people might be asking themselves is how much can they really help save the environment by going solar anyway? How much energy you use is a key factor to keep in mind. The more energy your home uses, the bigger your impact when you make the switch to solar power. When you go solar, your carbon footprint can be reduced by about 80 pounds each year. As you can see, investing in solar has so many other rewards besides saving money. One of the most important ones is that you can help save the environment too.