Benefits of Solar Energy
Solar energy provides numerous advantages that will enhance your home for years to come.
- Lower utility costs: Producing some or all of your own energy will save you money on your electric bills long-term. Plus, some states provide 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.
- Better energy independence: Adding a solar battery storage system lets you have reliable energy during grid outages and storms.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
What Solar Incentives Are Available to Downers Grove Homeowners?
Illinois homeowners who choose solar could qualify for special financing, rebates, reimbursements and tax credits. Here are just a few of the local incentive programs.
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 Downers Grove
The purchase price and efficacy of solar panels often rely on which company installed them. Here are some key items to keep in mind while shopping for a solar installer.
Licensing and Training
In Illinois, the state Commerce Commission issues licenses to distributed generation energy contractors, including solar installers. Check for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), one of the solar sector's most respected trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Downers Grove
The style of solar panels you choose dictates how much electricity you can generate. 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 want to charge an electric car 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 convenient to use. Not every solar company offers these optional components, so look for a provider that sells them if it's a priority for you.
You can expect to pay about $18,800 on average for a five-kilowatt solar energy system in Downers Grove. Use the table in this section to get an idea of how much Downers Grove solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,248 |
| Solar Polycrystalline | $974 |
| Thin-Film | $569 |
| Solar Battery | $799 |
| Solar Home EV Charger | $2,996 |
Financing Solar Energy in Downers Grove
Choosing the best financing plan will affect your overall solar system cost and possible savings. Common payment options include power purchase agreements, loans, leases, and cash payments. Though it requires a large up-front payment, cash is the most affordable choice because it qualifies you for solar incentives and doesn't accrue interest. Solar loans are the second most effective option. As with a car or home loan, you'll pay a monthly rate towards system ownership, including interest. You can still apply for valuable solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases allow you to pay a monthly fee to rent your panels, while a power purchase agreement lets you pay a variable rate based on only the energy you use. We generally don't recommend 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 an installer that offers multiple financing options. Speak with each representative about what's available, and obtain more than one estimate for the best odds of keeping within your financial plan.
The table below lists the average payback periods for different capacities of solar systems in Downers Grove.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Extra 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 Downers Grove
How much money could I save by going solar in Downers Grove?
How common is solar energy in Downers Grove?
Will solar panels improve my Downers Grove home price?
Is installing solar panels a quick job?
What upkeep do my solar panels need, and how frequently do they need it?
What is the average payback period for Downers Grove solar panels?
How does "net metering" work, and do I need to participate?
Some states or energy providers require you to enroll in net metering when purchasing your solar system, while others give you a choice. Either way, once you participate, you'll receive a bill credit or check for your excess generation at a wholesale or retail rate.
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