For Wisconsin homeowners, deciding whether or not to invest in solar panels can be a difficult decision.
With the extremely cold temperatures and snow during the winter months, it’s no wonder why many are wondering if going solar will save money on electricity bills and whether or not it’s worth the cost.
From potential tax breaks to energy independence, investing in a solar panel system for your home has several benefits. But how does living in Wisconsin affect those savings?
Wolf River Electric dives into some of the reasons why installing solar panels may be an advantageous investment for those living here in Badger State.
Benefits of Solar Panel Energy In Wisconsin
Converting to solar power in Wisconsin is incredibly appealing due to its numerous benefits, making it the perfect choice for homeowners. Here are some of the most significant benefits:
Clean, Renewable Energy
The most important benefit of going solar in Wisconsin is that you’ll use clean, renewable energy. Solar energy is produced without releasing any carbon or other pollutants into the air, so it’s a great way to reduce your environmental footprint. It also helps Wisconsin meet its goals of reducing its dependence on fossil fuels and increasing its use of renewable energy sources.
Electricity Bill Savings
Solar system provides a great opportunity to save money on utility bills. Not only will you be able to generate clean, renewable energy that can power your home, but you’ll also have the potential to supply excess energy back into the grid and earn credits on your electricity bill. This means that some months you’ll pay lower electricity bills as you receive credits for the energy that your solar panels have produced.
Lower Taxes & Access To Other Incentives
In Wisconsin, homeowners who install a solar power system can take advantage of various tax exemptions and incentives. This makes going solar more affordable and accessible for everyone. Through the federal solar tax credit, homeowners can receive up to some percentage of the total cost of their system back in taxes. Plus, Wisconsin also has other incentives that can help with the cost of installing a solar panel system on your home.
Home Resale Value Increase
Solar installation in your home not only helps you save money on your electricity bills, but it can also increase the resale value of your home. Solar energy industries association shows that homes with solar panel systems have higher sale prices and quicker turnover times than those without. This means that when planning to sell your home, you could potentially make a good return on your solar investment.
How To Tell Solar System Is Worth It In Wisconsin
Evaluate the following metrics to determine whether Wisconsin solar is financially beneficial for your future.
Your Home Electricity Consumption
A solar energy system needs enough sunshine to generate enough energy to offset your electric bill. Knowing how much electricity you use and when you use it will help determine if installing solar systems is a good investment for you or not.
The Cost Of Wisconsin Solar Panels
Wisconsin solar power is determined by various factors, including the type and size of the system you choose, the location, the roof’s orientation, and any incentives or rebates available from your utility company. Understand all of these upfront costs associated with solar installations and any potential savings that may be available.
Payback Period For Solar In Wisconsin
Payback period is the time it takes to recoup your investment in solar energy. In Wisconsin, the payback period for solar can vary greatly depending on the type and size of the system you choose and your energy usage patterns. The state also has generous tax credits that can reduce the Wisconsin solar panel cost and shorten the payback period even further.
Outlook On Solar In Wisconsin
The outlook for solar energy in Wisconsin is encouraging. With incentives and rebates available, solar can be an attractive investment for many homeowners. Furthermore, the state’s renewable portfolio standard requires utilities to generate a certain percentage of their power from renewable sources such as solar, which should help reduce electricity prices in the long term.
Wisconsin Solar Panel Incentives & Tax Credits
Whether business or residential solar power plan, Wisconsin gives access to various solar incentive programs and tax credits:
Federal Solar Tax Credit
The Federal Tax Credit is a great way to save money on the cost of installing solar energy. Also known as the Investment Tax Credit, it allows homeowners to deduct 30 % of the total cost, including installation and solar equipment. This credit is applied to any federal income taxes you owe during the year your solar energy system is installed.
Net Metering
Net Metering programs help to reduce costs for solar energy users. Under this program, customers are credited for each kilowatt-hour of electricity their systems generate and send back to the grid. They can then use those credits to offset their own usage on their electric bill.
Tax Exemptions
Wisconsin also offers tax exemptions to solar energy users. This includes an exemption from sales tax and uses taxes on purchasing solar equipment. It also extends to other items related to solar systems, such as solar batteries and conduits, helping Wisconsin residents to save even more money on their switch to solar.
Final Thought: Solar Energy Is Worth It In Wisconsin
We cannot deny facts-Solar energy is worth it in Wisconsin. It provides a great long-term investment, and with the state’s current solar incentives, you could save tens of thousands on installation costs.
Wisconsinites looking to reduce their energy bills and help protect the environment should seriously consider investing in renewable energy sources like solar power.
Solar technology is more accessible than ever before, and while there may be some initial financial demands, it’s an opportunity to secure a greener future.
So if you are looking for answers as to whether or not to install solar panels in Wisconsin, the answer is yes! It’s worth it, and you won’t regret this decision.
Get a free quote today with us here at Wolf River Electric!
Frequently Asked Questions
Yes, investing in solar energy is a great investment for Wisconsin homeowners. With the falling cost of installation and increasing incentives and tax credits available, it’s becoming increasingly easy to break even financially from solar systems. The energy costs from solar generation, combined with the money you save on electric bills and incentives, make solar a great investment.
The amount of money you can save from installing a solar system depends on size of your system, local energy rates, net metering, and available financial incentives. Typically, homeowners in Wisconsin can save up to 30% on their energy bills through solar panel installation. You can pay for solar with a solar loan or with a solar lease, but you’ll save the most money in the long run with a cash purchase.
Yes, Wisconsin does provide a solar tax credit for homeowners who install solar panels. The tax credit amount is based on the installation cost and can range from 10-30% of the total cost.
Yes, you can install solar panels in a cold state like Wisconsin. Although colder temperatures reduce solar panels’ efficiency, modern panels are designed to operate in most climate conditions. Even in Wisconsin’s cold winter months, you can still get the most out of your solar panels.
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