Many homeowners are harnessing the power of the sun and installing home solar systems in NJ. It helps now that there are many incentives available to homeowners to more easily power their homes with free, clean, renewable energy. But you might be asking yourself: is solar power really worth it? In this article, our residential solar team discusses the basics, including why solar power might be the right choice for your home.
The Cost of Solar Panels
The largest cost you’ll incur with solar panels is the initial installation fee. Depending on the size of your residential solar system, it can cost anywhere from $20,000 to $100,000, however there are federal tax incentives you can claim to mitigate this cost – we’ll discuss them more below.
The payback period, meaning the period of time it usually takes to recoup the solar installation costs, is around six to ten years depending on your home’s energy needs, and we estimate that the average home saves between $50 – $190 a month on their energy bills once their solar system is up and running.
Is Your Roof Suitable for Solar Panels?
The shape, angle, direction, and size of your roof will be big determining factors on whether or not you can install a home solar system. While many roofs are suitable for supporting solar panels, if yours isn’t, it doesn’t mean you can’t have a solar system. Many solar technicians install solar panels elsewhere around the homeowner’s property when the roof isn’t suitable.
Solar Tax Incentives
There is a 30% federal tax credit available to people who install residential solar panels, and many states have other tax incentives and rebates available. You can check this database to see what’s available in your state. This is a big step in the right direction, and we expect the federal and state governments to continue doing more to help homeowners cover installation costs in the future.
Your Energy Consumption
Solar panels are best for homes that have high energy consumption. A single person living alone in a small house won’t benefit as much from solar panels as a family of five living in a suburban home. If your family uses a lot of energy on a daily basis and you’ve noticed your energy bills continuing to increase, solar panels would be a more energy efficient and cost effective alternative for you.
If you’d like to talk with one of our professionals about why solar power is worth it, or if you have any questions about the installation process, please contact our team at Green House Solar today. We look forward to hearing from you and helping you with your solar needs. https://greenhouse.solar/