Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Better energy independence: Solar energy can keep your home functioning through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with optional battery backup.
- Reduced carbon footprint: Using clean solar power reduces your dependence on conventional, less environmentally-friendly sources.
- Lowered energy bills: You can skip the expensive cost of grid-tied power by generating some electricity right where you use it. Plus, many states provide net metering which can allow you to sell your unused energy back for credits on your bill.
What Solar Incentives Are Available to Edwardsville Homeowners?
Illinois agencies and electric companies offer a variety of solar incentives to help reduce your solar system costs. Below is a breakdown of applicable 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 Edwardsville
Choosing a company is the first step toward an effective and valuable solar system. Here are some important factors to consider while shopping for a solar provider.
Licensing and Training
In Illinois, the state Commerce Commission regulates distributed generation energy contractors, including solar contractors. You should also visit a company's website to learn about its private accreditations. Two of the most recognized are the Solar Heating Installer and PV Installation Professional certificates, backed 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 Edwardsville
Different solar panel types look and perform differently. Monocrystalline panels offer the best energy production but cost more than other options 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.
You can also add battery backups and electric vehicle (EV) chargers. These will increase your total installation cost, but they can enhance your solar system's efficiency. Not every solar contractor provides these optional components, so look for a company that sells them if it's a priority for you.
You can plan to spend about $18,800 on average for a five-kilowatt solar energy system in Edwardsville. Use the table in this section to get an idea of the amount Edwardsville solar companies might quote for your specific solar system's price.
| Solar Panel Cost | Average Cost |
|---|---|
| Solar Monocrystalline | $1,178 |
| Solar Polycrystalline | $918 |
| Thin-Film | $537 |
| Solar Battery | $754 |
| Solar Home EV Charger | $2,826 |
Financing Solar Energy in Edwardsville
There are many ways to pay for a solar energy system, and the right one will lower your costs. A few of the most common options include loans, cash payments, power purchase agreements (PPAs), and leases. Most solar experts recommend a cash payment 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. Much like a home or auto loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to use your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, much like an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for providers that offer multiple 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 Edwardsville.
A 26% federal solar tax credit applies to new home solar systems 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 Edwardsville
How much money could I save by going solar in Edwardsville?
How popular is solar energy in Edwardsville?
Should I anticipate a boost in my property value after switching to solar energy?
What if I live in a dark or rainy
Is installing solar panels a quick job?
How long does it take to pay back a solar loan in Edwardsville?
What are some "red flags" to watch for as I research companies?
- Pressuring you into signing a contract
- Being evasive about cost, credentials and training, warranties and references
- Limited or no customization
- Not thoroughly inspecting your site
- More mixed or negative reviews than positive ones
What's the difference between a PPA and traditional financing?
You might look into a PPA if you don’t want to be responsible for maintaining your panels and don’t want to invest in a system, but keep in mind you won’t be paying toward ownership or be able to access any solar financial incentives. Many solar experts don’t recommend PPAs. Our guide covers other financing options above.
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