12 Best Solar Companies in Lafayette, WI (Mar 2023 Review)

The Cost and Benefits of Solar in Lafayette

Solar panels are powered by a free energy source — the sun — but to take advantage of this you first need to pay to set up your panels. The installation cost is just one important factor you should consider when looking into installing solar panels. How much it'll cost and how much you can save depend on things including:

• Choice of solar panels: The kind of solar panels you choose will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also save you more money over the lifetime of your system. If space isn't a constraint for your project, you can go with a higher number of more affordable panels.
• How much sunlight your roof gets: If your roof doesn't get a lot of direct sunlight, your solar panels won't be able to generate as much energy, which will leave you with lower savings on electric bills than a roof that gets lots of sunlight.
• Your current power bills: Solar panels can significantly decrease, or totally get rid of, your utility bills. In Lafayette, you can save an average of $124 a month.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 30% of your total installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Not including incentives, you can save an average of $19,000 over the first 20 years with your solar system, too.

As a result of solar panels decreasing in cost as well as several solar incentives, they are a solid investment for many homeowners.

Solar Incentives in Lafayette

Although solar power is typically a big investment, it can save you a substantial amount of money over time due to reduced energy bills and government incentives. When you install a solar panel system on your home, you can claim the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. Additionally, there are often some state and city incentives that you can take advantage of to further save. Take a look at our article on solar incentives to find out what incentives are available to you.

Environmental Impact of Switching to Solar in Lafayette

Many want to do what they can to help protect the environment, which often is the chief reason for installing solar panels. But how much can using solar energy instead of traditional energy actually affect the environment? In a city like Lafayette where energy use is rather high, making the switch to solar power is a great plan for people who are worried about the state of the planet. After you go solar, your carbon dioxide emissions can be cut by about 90 pounds every 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.