Benefits of Solar Energy
Solar energy offers multiple advantages. Let's look at a few of them.
- Reduced carbon footprint: Using clean solar power lowers your dependence on conventional, less environmentally-friendly sources.
- Better energy independence: Solar panel systems can keep your home functioning through emergencies and blackouts. You can use your solar energy anytime with an optional battery backup system.
- Lowered energy bills: With a solar array, you create power without paying the tacked-on costs of grid-connected power. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Lockport Homeowners?
Governments and utility companies often incentivize homeowners for switching to solar. Here are some of the rebates, tax credits or other programs you could qualify for.
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 Lockport
The more informed your provider search is, the better your solar panels will ultimately operate. Consider each of these factors in your company search.
Licensing and Training
In Illinois, the state Commerce Commission issues licenses to distributed generation energy contractors, including solar contractors. Solar providers can also obtain certifications from trade groups and standards organizations. The most respected ones in the industry come from the NABCEP. Most company websites will prominently display earned credentials, but you should also ask your estimator for more information.
Cost of Solar Panels in Lockport
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.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will increase your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor offers these additional features, so look for a contractor that installs them if it's a priority for you.
A majority of Lockport homeowners select solar systems designed for five kilowatts (kW) of electrical capacity. These systems cost about $18,800 to install, considering both parts and installation. You can see more specific solar cost information in the table.
| 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 Lockport
Solar providers offer multiple different financing options to lower your costs and increase your savings. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), solar loans, cash payments and solar leases. Most solar experts recommend paying cash or using a solar loan. Cash payments demand 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 car loan, you'll pay a set monthly rate with as little as $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) enables you to pay a monthly rate based only on the energy you use, like an electric bill. We generally don’t recommend these two options because you won't own the panels and are disqualified from using solar incentives. Look for providers that offer several 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 Lockport.
A 26% federal solar tax credit applies to new residential solar equipment 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 Lockport
How much money could I save by going solar in Lockport?
How common is solar energy in Lockport?
Will solar panels boost my Lockport home value?
What can I do to estimate my home's solar potential?
What care do my solar panels need, and how often do they need it?
What is the average payback period for Lockport solar panels?
What is "net metering," and how does it work?
Some states or energy providers mandate you to participate in net metering when purchasing your solar system, while others give you a choice. Either way, once you participate, you'll earn a bill credit or check for your excess generation at a retail or wholesale rate.
How many estimates should I get before making a final solar company decision?
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