18 Best Solar Companies in Lake Ridge, VA (Feb 2023 Review)

The Cost and Benefits of Solar in Lake Ridge

The cost of installing a solar panel system has decreased greatly in the past few years, but it's still a significant investment for most homeowners. The cost of solar and the savings it generates vary depending on a few important factors such as:

• Incentives: Those who purchase and install a solar system this year can save 30% of their installation costs by taking advantage of the federal solar investment tax credit. You can also save about $18,000 on your utility bills over 20 years without incentives.
• Your power bills: This will affect your savings. In Lake Ridge, the average resident can save about $1,500 a year on their electricity bills.
• How much energy you use: If your family regularly uses a lot of energy, you'll benefit more from switching to solar.
• Choice of solar panels: The kind of solar panels you buy 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 opt for a higher number of more affordable panels.

There are several great benefits of solar despite the upfront cost of installation. It can help the Earth and your finances. Plus, it can boost the value of your home, leading to even more benefits if you choose to sell your home later.

Solar Incentives in Lake Ridge

Although solar power is typically a $15,000 to $25,000 investment, it can save you a substantial amount of money over time because of lower power bills and government incentives. On top of the federal tax credit incentive, there are also some state- and city-level programs, which in most cases, can be claimed in addition to the federal incentive, so you get to save even more. Check out our article on solar incentives to find out what incentives are available to you.

Environmental Impact of Switching to Solar in Lake Ridge

One reason so many people consider going solar is to help reduce their environmental impact. But how much can installing solar panels actually affect the environment? Your energy usage is a significant factor to think about. The more power you use, the larger your impact when you make the switch to solar power. In Lake Ridge, the average homeowner can lower their carbon footprint by 60 pounds a year once they go solar. For those who are worried about the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.