Benefits of Solar Energy
Solar energy comes with multiple advantages. Let's look at a few of them.
- Reduced carbon footprint: Adopting solar is a surefire way to minimize your carbon footprint and home fossil fuel dependency.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, decreasing your monthly electricity costs. Going off-grid can eliminate your bills completely. Plus, a significant number of states offer net metering, which permit you to earn money by selling your unused energy back to the grid.
- Better energy independence: Solar energy can keep your home running through emergencies and blackouts. You can use your solar energy anytime with an optional battery backup system.
What Solar Incentives Are Available to Rockford Homeowners?
Governments and power companies often reward homeowners for going solar. Here are some of the tax credits, rebates, 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 Rockford
The price and effectiveness of solar panels often hinge on the provider that mounted them. Here are some crucial criteria to remember while shopping for a solar provider.
Licensing and Training
In Illinois, the state Commerce Commission regulates distributed generation energy contractors, including residential solar contractors. You should also visit a company's website to learn about its private accreditations. 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 Rockford
The style of solar panels you choose determines how much power you can produce. Monocrystalline panels and high-quality and cost more but give you the best performance. 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 the best for large residential installations, but they are excellent accessories for non-traditional roofs.
If you want to charge an electric car or use your solar power in inclement weather, you can pay extra for accessories. By selecting the right components, you can make your panel array more productive and user-friendly. Not all solar contractors provide these additional features, so look for a company that sells them if it's important for you.
You can plan to spend about $18,800 on average for a five-kilowatt solar energy system in Rockford. Check the table in this section to get an idea of what amount Rockford solar companies might quote for your specific solar system's price.
Solar Panel Cost | Average Cost |
---|---|
Solar Monocrystalline | $1,081 |
Solar Polycrystalline | $844 |
Thin-Film | $493 |
Solar Battery | $692 |
Solar Home EV Charger | $2,595 |
Financing Solar Energy in Rockford
Solar contractors offer multiple different financing options to increase your savings and lower your costs. Though some providers offer unique payment plans, the most common are power purchase agreements (PPAs), cash payments, solar loans and solar leases. We suggest 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 cut 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 benefiting from energy bill savings and solar incentives. However, you’ll pay more in total due to accruing interest. Solar leases involve paying a set monthly rate to use rooftop panels. A PPA (Power Purchase Agreement) lets you pay a monthly rate determined by the energy you use, similar to an electric bill. We generally don’t recommend these two choices because you won't own the panels 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 Rockford.
You are eligible for a 26% federal solar tax credit for new solar energy equipment until the year 2032. Local and state governments and utility companies might also offer discounts, rebates, 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 Rockford
How much money could I save by going solar in Rockford?
How widespread is solar energy in Rockford?
Should I anticipate a property value increase after adopting solar power?
Could I still use solar power if I live in a rainy, wooded, or dark area?
How long does the solar panel installation process take?
What's the average solar system size in Rockford?
How are a solar lease and PPA different?
If you choose a lease, you'll make fixed monthly payments.
With both leases and PPAs, you don't own your panels and lose eligibility for most incentives. Further, you'll have to "buy out" or transfer the contract if you sell your home during the term.
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