Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Lowered energy bills: You can avoid the premium cost of grid-tied power by creating some electricity right where you use it. Plus, many states offer net metering which can allow you to sell your unused energy back for credits on your bill.
- Better energy independence: Solar panel systems can keep your home functioning through emergencies and blackouts, giving you additional security. You can use your solar energy anytime with an optional battery backup system.
- Reduced carbon footprint: Utilizing solar is a surefire way to reduce your carbon footprint and home fossil fuel dependency.
What Solar Incentives Are Available to Glenview Homeowners?
Illinois agencies and electric companies offer a range of solar incentives to help reduce your solar system costs. Check out a breakdown of relevant 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 Glenview
The cost and efficiency of solar panels often rely on which company mounted them. Make your choice based on the following important considerations.
Licensing and Training
In Illinois, the state Commerce Commission regulates distributed generation energy contractors, including solar installers. Solar providers can also pursue accreditations from trade groups and standards organizations. 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 Glenview
Your solar panels' model will influence how much energy you can produce. Monocrystalline panels are among the highest quality and cost the most but perform the best. Polycrystalline panels generate less, but they're a great traditional option for low budgets. Thin-film panels are excellent for non-traditional roof shapes and cost the least, but don't work well for large residential installations.
You can also add electric car (EV) chargers and battery backup systems. These will increase your total installation cost, but they can maximize your solar system's performance. Not every solar provider provides these extras, so look for a provider that installs them if it's crucial for you.
If you're a resident of Glenview and want a five-kilowatt solar energy system, you could plan to spend 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 | $1,198 |
Solar Polycrystalline | $935 |
Thin-Film | $546 |
Solar Battery | $767 |
Solar Home EV Charger | $2,876 |
Financing Solar Energy in Glenview
Solar installers use multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are cash payments, power purchase agreements (PPAs), solar loans and solar 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. Like 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 PPA lets you pay a variable rate based on only the energy you use. We generally advise against these options since you won't own your system and are disqualified from solar incentives, but they might be suitable in specific circumstances. Ask each business you're vetting about the payment options it offers. A staff member can help you determine the optimal option for your financial situation.
The table below lists the average payback periods for different capacities of solar systems in Glenview.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. City and state officials and utility companies might also offer rebates, discounts, and specialized financing options that could save you more.
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 Glenview
How much money could I save by going solar in Glenview?
How widespread is solar energy in Glenview?
Should I anticipate a boost in my property value after going solar?
What maintenance do my solar panels need, and how often do they need it?
What size should my new Glenview solar system be?
How long does it take to pay back a solar loan in Glenview?
What is "net metering," and how does it work?
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