Solar panels create an asset to your home that can increase its value. We're all familiar of the concept of owning versus renting. Without the use of solar energy each month you pay bills that go towards renting energy for your home. When panels are installed, you now transition into owning that energy. This is just one of many benefits that solar energy provides. Let's learn about more...
Tax Credits & Incentives
To start, you will get 30 percent of total system costs back from equipment and installation as a federal income tax credit when you file your taxes. This means you would save $7,500 on a solar system worth $25,000.
Thanks to Illinois’ net metering policy, your utility will buy back any excess electricity your solar system produces. Net metering ensures that you benefit from the full value of your solar panels and is a great way to balance out your electricity production and consumption. Commonwealth Edison offers the top utility net metering program in Illinois.
Worried about your property tax bills going up because of the value your solar system will add to your home? Don’t be. The Special Assessment for Solar Energy Systems means that you will be taxed as if the panels were not even there.
Reduce / Eliminate Energy Bills
On average Illinois receives 198 sunny days, which means you're guaranteed to save money by switching to solar. On top of that, solar panels will continue to draw energy even when the weather is cloudy. Indirect, or diffused, sunlight will still help to power your home. Cloudy days usually produce around 10 to 20 percent of the power generated on sunny days.
Help The Environment
Solar power systems create clean, pure energy from the sun. Going solar helps combat greenhouse gas emissions and reduces our collective dependence on fossil fuel. Traditional electricity is sourced from fossil fuels such as coal and natural gas.
When fossil fuels are burned to produce electricity, they emit harmful gases that are the primary cause of air pollution and global climate change. Not only are fossil fuels bad for the environment, but they are also a finite resource. Because of this, the price is constantly fluctuating and can increase in a short period of time.
Be Part Of The Future
Much like the increased popularity of electric cars, the world as a whole is transitioning to a more sustainable way of life. This trend is exponential and cyclical, with the mass adoption of solar technology driving prices down, leading to more businesses adopting solar technology and thus repeating the cycle.
Being part of solar is being part of our future.
Whether you are an environmentally conscious business or just looking for cost-cutting solutions to balance the books, solar is going to be hard to say no to currently and more so in the coming years.