Benefits of Solar Energy
Solar energy has numerous advantages that will enhance your home for years to come.
- Reduced carbon footprint: The sun is one of the universe's most abundant clean energy sources, meaning you can lower or beat your home's dependence on fossil fuels.
- Lowered energy bills: You can dodge the added cost of grid-tied power by producing some electricity right where you use it. Plus, many states provide net metering which can allow you to sell your unused energy back to credit part of your bill.
- Better energy independence: Adding a battery storage system lets you have reliable energy during storms and grid outages.
What Solar Incentives Are Available to Rock Island Homeowners?
Governments and utilities 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: Solar Renewable Energy Credit Program
Website: icc.illinois.govIncentive Amount:
Negotiated with procurement administrators
Incentive Type: Rebate Program
Website: midamericanenergy.comIncentive Amount:
Appliance Recycling
Refrigerator or Freezer: $50
Heating & Cooling
Air-Source Heat Pump: $150 - $350
Central Air Conditioners: $50 - $300
Ductless Minisplit A/C: $50 - $300
Ductless Minisplit Heat Pump: $150 - $350
Furnace Fan: $50
Geothermal Heat Pumps: $200 - $2,400, depending on EER and COP
Heat Pump Water Heater: $300
Natural Gas Furnace: $300/unit
Programmable Thermostat: $25
Room Air Conditioners: $35
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 Rock Island
The more informed your provider search is, the better your solar installation will ultimately work. Consider all of these criteria in your business search.
Licensing and Training
In Illinois, the state Commerce Commission regulates distributed generation energy contractors, including home solar installers. Solar companies can also pursue accreditations from trade groups and standards organizations. The most prestigious 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 Rock Island
Your solar panels' style will influence how much energy you can generate. 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.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will add to your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar contractor includes these add-ons, so look for a company that sells them if it's a priority for you.
Most Rock Island homeowners choose solar systems sized for five kilowatts (kW) of electrical capacity. These systems run about $18,800 to set up, considering both parts and installation. You can see more specific solar cost information in the table.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,099 |
Solar Polycrystalline | $857 |
Thin-Film | $501 |
Solar Battery | $703 |
Solar Home EV Charger | $2,637 |
Financing Solar Energy in Rock Island
Choosing the ideal financing solution will influence your overall solar system cost and possible savings. Common payment options include leases, cash payments, power purchase agreements, and loans. 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. Much like a home or auto loan, you'll pay a set monthly rate with potentially $0 down. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) permits you to pay a monthly rate based only on the energy you use, like an electric bill. We typically don’t recommend these two options because you won't own the system and are disqualified from using solar incentives. Look for providers that offer multiple payment plans to find the right fit for your wallet.
The table below lists the average payback periods for different capacities of solar systems in Rock Island.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Municipal and state governments and utility companies might also offer discounts, rebates, and dedicated financing plans 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 Rock Island
How much money could I save by going solar in Rock Island?
How popular is solar energy in Rock Island?
Will solar energy systems boost my Rock Island home worth?
How can I determine my home's solar viability?
What's a Rock Island solar panel's average lifespan?
How long does it take to pay back a solar loan in Rock Island?
How can I enhance my solar system's performance?
- optimize the panels' position with your solar installer
- regularly clean your solar panels
- upgrade to a more efficient inverter trim or cut down trees in the way of your panels
- use energy-efficient appliances
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.