Benefits of Solar Energy
Solar energy offers multiple advantages. Let's look at a few of them.
- Better energy independence: Photovoltaic solar panel systems with battery storage systems function through blackouts and emergencies, and you won't have to rely on your power company for your safety and well-being.
- Reduced energy costs: Generating some or all of your own energy will spend less on electricity long-term. Plus, some states offer net metering programs that make it possible for you to sell your extra energy back to the grid, generating extra credits toward your energy bill.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
What Solar Incentives Are Available to Crystal Lake Homeowners?
Illinois agencies and electric companies offer numerous solar incentives to help lower your solar system costs. Here's a breakdown of eligible solar programs where you live.
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 Crystal Lake
The more comprehensive your company investigation is, the better your solar installation will ultimately operate. Make your choice based on the following important considerations.
Licensing and Training
In Illinois, the state Commerce Commission regulates distributed generation energy contractors, including home solar installers. Solar companies can also obtain accreditations from standards organizations and trade groups. The most recognized ones in the industry come from the North American Board of Certified Energy Practitioners. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Crystal Lake
Your solar panels' type will impact how much electricity you can produce. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
If you want to charge an electric vehicle (EV) or use your solar power in inclement weather, you can pay extra for accessories. By choosing the right components, you can make your panel array more productive and user-friendly. Not every solar company offers these additional features, so look for a contractor that sells them if it's crucial for you.
Most Crystal Lake homeowners select solar systems sized for five kilowatts (kW) of electrical capacity. These systems cost about $18,800 to install, considering both materials and labor. You can see more specific solar cost information in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,134 |
| Solar Polycrystalline | $884 |
| Thin-Film | $517 |
| Solar Battery | $725 |
| Solar Home EV Charger | $2,721 |
Financing Solar Energy in Crystal Lake
There are many ways to pay for new solar panels, and the right one will help you decrease overhead. A few of the most common options include leases, cash payments, power purchase agreements (PPAs), and loans. Most solar experts recommend paying cash 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. Much like an auto or home loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate determined by the energy you use, akin to an electric bill. We usually don’t recommend these two choices because you won't own the solar system and are disqualified from using solar incentives. Look for installers that offer multiple payment plans to find the right fit for your budget.
The table below lists the average payback periods for different capacities of solar systems in Crystal Lake.
A 26% federal solar tax credit applies to new residential solar equipment purchased through 2032. Additional incentives may be available through local governments, usually in the form of rebates and special financing programs.
| 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 Crystal Lake
How much energy and money could I save per year by switching to solar?
How common is solar energy in Crystal Lake?
Will solar energy systems boost my Crystal Lake home worth?
How can I evaluate my site's solar viability?
How long does the photovoltaic installation process require?
How long does it take to pay back a solar loan in Crystal Lake?
How are a solar lease and PPA different?
If you choose a lease, you'll make set monthly payments.
With both leases and PPAs, you don't own your panels and lose eligibility for most incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
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