Benefits of Solar Energy
Solar energy provides multiple benefits. Here are some highlights.
- Reduced carbon footprint: Using clean solar power reduces your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Lower utility costs: Generating some or all of your own power will spend less on electricity long-term. Plus, some states provide net metering programs that allow you to sell your unused energy back to the grid, generating additional credits toward your energy bill.
- Better energy independence: Adding a solar battery storage system lets you have reliable energy during storms and grid outages.
What Solar Incentives Are Available to Decatur Homeowners?
Governments and power companies often reward homeowners for going 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: Solar Renewable Energy Credit Program
Website: icc.illinois.govIncentive Amount:
Negotiated with procurement administrators
Incentive Type: Rebate Program
Website: powermoves.comIncentive Amount:
Dual Fuel Heat Pump: $500
Variable Speed Pool Pump: $250
Air-Source Heat Pump: $250 - $750
Geothermal Heat Pump: $1,500
Heat Pump Water Heater: $400/unit
HVAC: Varies depending on ZIP code. See program website
Incentive Type: Rebate Program
Website: cornbeltenergy.comIncentive Amount:
Dual Fuel Heat Pump: $500/unit
Pool Pump: $250/unit
Air Source Heat Pump: $250 - $750/unit
Heat Pump Water Heater: $400/unit
Geothermal Heat Pump: $1,500/unit
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 Decatur
The purchase price and effectiveness of solar panels often rely on which company mounted them. Here are some key items to remember while searching for a solar provider.
Licensing and Training
In Illinois, the state Commerce Commission issues licenses to distributed generation energy contractors, including home solar installers. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of 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 Decatur
Different solar panel types look and perform differently. Monocrystalline panels cost more than other options, but they generate the most power and generally have the highest quality. Polycrystalline panels provide a lower price point but produce less power. Thin-film panels work well for small projects like RVs and sheds, but they're not ideal for larger installations due to their low performance.
If you want to charge an electric car or use your solar power in dark weather, you can pay extra for add-ons. By selecting the right components, you can make your system more productive and user-friendly. Not every solar company includes these add-ons, so look for a company that sells them if it's important for you.
You can expect to pay about $18,800 on average for a five-kilowatt solar energy system in Decatur. Use the table in this section to get an idea of what amount Decatur solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,076 |
Solar Polycrystalline | $839 |
Thin-Film | $491 |
Solar Battery | $688 |
Solar Home EV Charger | $2,582 |
Financing Solar Energy in Decatur
Choosing the right financing option will affect your overall solar system cost and possible savings. Common payment options include loans, cash payments, power purchase agreements, and leases. Most solar experts recommend paying cash or using a solar loan. Cash payments require a large up-front sum, but they help you avoid 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. Similar to a home or auto loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a power purchase agreement lets you pay a fluctuating rate based on only the energy you use. We generally advise against these options since you will not have ownership of your system and are disqualified from solar incentives, but they might be appropriate in specific circumstances. We advise working with a provider that offers multiple financing options. Talk to each salesperson about what's available, and secure more than one estimate for the best odds of keeping within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Decatur.
The IRS allows you to claim a 26% federal solar tax credit on your new solar panels, so long as you purchase it before 2032. Local governments and utilities might also offer their own rebates, incentives, and financing programs that could save you more money.
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 Decatur
How much energy and money could I save per year by switching to solar?
How common is solar energy in Decatur?
Will solar energy systems improve my Decatur home worth?
How many years will an average solar system last?
What size should my new Decatur solar system be?
How long does it take to pay back a solar loan in Decatur?
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
How many estimates should I get before making a final solar company decision?
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