Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Lowered energy bills: You can avoid the expensive cost of grid-tied power by creating some electricity right where you use it. Plus, many states offer net metering which can allow you to sell your unused energy back for credits on your bill.
- Reduced carbon footprint: Solar is a highly abundant clean energy source, meaning you can reduce or eliminate your home's dependence on fossil fuels.
- Better energy independence: Adding a battery backup or storage system lets you have trustworthy energy during grid outages and storms.
What Solar Incentives Are Available to Bloomingdale Homeowners?
Governments and utilities often reward homeowners for embracing solar. Here are some of the tax credits, rebates, or other programs you could qualify for.
Incentive Type: Property Tax Incentive
Incentive Amount:
Varies
Incentive Type: Rebate Program
Website: comed.comIncentive Amount:
Appliances
Air Purifier: $50
Clothes Washer: $50
Dehumidifier: $50
Electric Clothes Dryer: $50
Freezer: $50
Refrigerator: $50
Room Air Conditioner: $25
Refrigerator/Freezer Recycling: Free pickup and $50, plus an additional $10 if recycling a room A/C at the same time
Heating & Cooling
Air Source Heat Pump: $400 - $600
Central A/C: $300 - $600
Ductless Mini-Split Heat Pump: $400
Geothermal Heat Pump: Up to $6,000/home
Furnace Blower Motor (ECM): $50 - $100
Miscellaneous
Advanced Power Strip: $10
Air Sealing: Up to $400/home
Attic Insulation: Up to $300/home
Duct Sealing: Up to $500/home
Lighting: In-store discounts, varies
Pool Pump: $275
Smart Thermostat: $100
Wall Insulation: Up to $400/home
Incentive Type: Solar Renewable Energy Credit Program
Website: icc.illinois.govIncentive Amount:
Negotiated with procurement administrators
Incentive Type: Personal Tax Credit
Website: ecowatch.comIncentive Amount:
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.
How To Choose the Best Solar Company in Bloomingdale
The more informed your company investigation is, the better your photovoltaic system will ultimately function. Consider all of these factors in your contractor search.
Licensing and Training
In Illinois, the state Commerce Commission licenses distributed generation energy contractors, including residential solar contractors. You should also visit a company's website to learn about its private accreditations. Two of the most respected are the Solar Heating Installer and PV Installation Professional certificates, granted by the North American Board of Certified Energy Practitioners (NABCEP). Some companies don't publish this information online, so you should also ask your estimator about them.
Cost of Solar Panels in Bloomingdale
The style of solar panels you purchase decides how much energy you can produce. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't recommended for large residential installations, but they are ideal for small projects like converting RVs and sheds.
If you'd like to charge an electric car or use your solar power in inclement weather, you can pay extra for add-ons. By choosing the right components, you can make your panel array more efficient and convenient to use. Not all solar contractors include these add-ons, so look for a provider that sells them if it's essential for you.
Most Bloomingdale homeowners choose solar systems sized for five kilowatts (kW) of electrical capacity. These systems cost about $18,800 to install, considering both parts and installation. You can see more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,191 |
| Solar Polycrystalline | $929 |
| Thin-Film | $543 |
| Solar Battery | $762 |
| Solar Home EV Charger | $2,858 |
Financing Solar Energy in Bloomingdale
Choosing the optimal financing solution will impact your overall solar system cost and expected savings. Common payment options include power purchase agreements, leases, loans, and cash payments. Most solar experts recommend a cash payment or using a solar loan. Cash payments demand a large up-front sum, but they save you from paying interest, grant you system ownership, and qualify you for cost-saving solar incentives. Solar loans have the same benefits, though you'll pay more in total due to interest and fees. Like an auto or home loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to pay a monthly rate to rent your panels, while a PPA lets you pay a fluctuating rate based on only the energy you use. We generally don't recommend these options since you won't own your system and are disqualified from solar incentives, but they might be suitable in particular circumstances. Look for installers that offer two or more payment plans to find the right fit for your financial needs.
The table below lists the average payback periods for different capacities of solar systems in Bloomingdale.
You can claim a 26% federal solar tax credit from the IRS for new residential solar systems purchased before 2032. Additionally, utilities and local governments may have their own financing plans and rebates that could reduce your total cost even more.
| Solar System Capacity | Estimated Payback period |
|---|---|
| 1 kW | 2.8 years |
| 2 kW | 5.5 years |
| 5 kW | 13.8 years |
| 10 kW | 27.6 years |
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Frequently Asked Questions About Solar in Bloomingdale
How much money could I save by going solar in Bloomingdale?
Is solar energy easily accessible in Bloomingdale?
Should I expect a boost in my property value after going solar?
What can I do to assess my home's solar viability?
How do I care for my new solar system?
What size should my new Bloomingdale solar system be?
Should I get quotes from multiple Bloomingdale solar companies?
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