Benefits of Solar Energy
Solar energy provides multiple advantages. Let's look at a few of them.
- Lowered energy bills: You can dodge the added cost of grid-tied power by producing some electricity right where you use it. Plus, many states offer net metering which can allow you to sell your unused energy back to credit part of your bill.
- Better energy independence: Solar energy can keep your home running through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with optional battery storage.
- Reduced carbon footprint: Solar is the universe's most abundant clean energy source, meaning you can minimize or conquer your home's dependence on fossil fuels.
What Solar Incentives Are Available to Cunningham Homeowners?
Illinois' public agencies and power companies offer a variety of solar incentives to help reduce your solar system costs. Here's a breakdown of available solar programs where you live.
Incentive Type: Property Tax Incentive
Incentive Amount:
Varies
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 Cunningham
The more comprehensive your provider search is, the better your solar installation will ultimately function. Make your choice based on the following important considerations.
Licensing and Training
In Illinois, the state Commerce Commission issues licenses to distributed generation energy contractors, including solar installers. Check a company's website for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Cunningham
Your photovoltaic panels' style will affect 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 have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
If you'd like to charge an electric car or use your solar power in dark weather, you can pay extra for accessories. By choosing the right components, you can make your system more effective and user-friendly. Not all solar companies provide these add-ons, so look for a provider that sells them if it's crucial for you.
If you're a resident of Cunningham and want a five-kilowatt solar energy system, you could expect to pay about $18,800 for materials and labor. Find more information on specific component and solar panel costs in the table.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,149 |
| Solar Polycrystalline | $896 |
| Thin-Film | $524 |
| Solar Battery | $736 |
| Solar Home EV Charger | $2,758 |
Financing Solar Energy in Cunningham
Choosing the right financing plan will impact your overall solar system cost and expected savings. Common payment options include cash payments, power purchase agreements, leases, and loans. We recommend making a cash payment or using a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also own your system and can apply for solar panel incentives to minimize your total costs. Solar loans are another solid option if you don’t want to make a big initial investment. You can pay for your system in installments while still enjoying energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases let you use your panels for a set monthly rate, while PPAs let you pay only for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We suggest working with an installer that offers multiple financing options. Ask each consultant about what's available, and get more than one estimate for the best odds of staying within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Cunningham.
A 26% federal solar tax credit applies to recently-purchased 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 Cunningham
How much money could I save by going solar in Cunningham?
Is solar energy easily accessible in Cunningham?
Will a solar PV system raise my Cunningham home price?
What if I live in a heavily-wooded or gloomy
What is a Cunningham solar panel's average lifespan?
What size should my new Cunningham solar system be?
How can I boost my solar panels' performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
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