Benefits of Solar Energy
Solar energy provides multiple benefits. Here are some highlights.
- Reduced carbon footprint: Using clean solar power lowers your dependence on fossil fuels, which release greenhouse gases that damage the environment.
- Lowered energy bills: You can skip the expensive cost of grid-tied power by creating 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.
- Better energy independence: Adding a battery backup or storage system lets you have trustworthy energy during grid outages and storms.
What Solar Incentives Are Available to Northfield Homeowners?
Governments and utilities often incentivize homeowners for embracing 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 Northfield
The purchase price and performance of solar panels often depend on the provider that mounted them. Make your choice based on the following important considerations.
Licensing and Training
In Illinois, the state Commerce Commission issues licenses to distributed generation energy contractors, including solar contractors. You should also visit a company's website to learn about its private credentials. Two of the most respected are the PV Installation Professional and Solar Heating Installer 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 Northfield
The type of solar panels you purchase determines how much energy you can generate. Monocrystalline panels and high-quality and give you the best performance but cost more upfront. Polycrystalline panels produce less power, but they're worth it if you want a traditional panel style without the high cost. 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 cloudy weather, you can pay extra for accessories. By choosing the right components, you can make your panel array more productive and user-friendly. Not every solar contractor includes these add-ons, so look for a provider that installs them if it's a priority for you.
Generally speaking, it costs about $18,800 for a five-kilowatt solar array in Northfield. This table shows more specific prices for different solar panel types and system components in your area.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,185 |
Solar Polycrystalline | $924 |
Thin-Film | $540 |
Solar Battery | $758 |
Solar Home EV Charger | $2,844 |
Financing Solar Energy in Northfield
Solar installers offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are solar loans, power purchase agreements (PPAs), solar leases and cash payments. We recommend making a cash payment or using a solar loan for the highest return on investment (ROI). Cash payments require a hefty sum up-front, but you’ll pay the least long-term by avoiding interest. You’ll also have full ownership of your system and can apply for solar panel incentives to reduce your total costs. Solar loans are another good option if you don’t want to make a big initial investment. You can pay for your system in installments while still enjoying energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. 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 won't own your system and are disqualified from solar incentives, but they might be appropriate in certain circumstances. Look for providers that offer multiple payment plans to find the right fit for your pocket.
The table below lists the average payback periods for different capacities of solar systems in Northfield.
You are eligible for a 26% federal solar tax credit for new solar energy devices until the year 2032. Municipal and state governments 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 Northfield
How much energy and money could I save per year by switching to solar?
How prevalent is solar energy in Northfield?
Should I expect a boost in my property value after going solar?
What can I do to assess my home's solar potential?
How long is a Northfield solar panel's average lifespan?
What is the average payback period for Northfield solar panels?
What are some "red flags" to watch for as I research companies?
- Pressuring you into signing a contract
- Not being straightforward about cost, warranties, credentials and training and references
- Inflexible options
- Not thoroughly inspecting your site
- Limited online information
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