Benefits of Solar Energy
Solar energy provides several advantages that will enhance your home for years to come.
- Lowered energy bills: You can dodge the expensive 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 to credit part of your bill.
- Reduced carbon footprint: The sun is a highly abundant clean energy source, meaning you can minimize or conquer your home's dependence on fossil fuels.
- Better energy independence: Adding a solar battery storage system lets you have dependable energy during storms and grid outages.
What Solar Incentives Are Available to Thornton Homeowners?
Illinois homeowners who go solar could qualify for special financing, reimbursements, tax credits and rebates. Here are just a few of the region's incentive offerings.
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 Thornton
Choosing a company is the first step toward an effective and valuable solar energy system. Make your choice based on the following vital factors.
Licensing and Training
In Illinois, the state Commerce Commission regulates distributed generation energy contractors, including solar installers. You should also visit a company's website to learn about its private certifications. Two of the most respected are the PV Installation Professional and Solar Heating Installer certificates, granted 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 Thornton
The kind of solar panels you purchase decides how much energy you can generate. 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.
Additional components, such as battery storage and electric vehicle (EV) chargers, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar company provides these additional features, so look for a provider that sells them if it's a priority for you.
You can plan to spend about $18,800 on average for a five-kilowatt solar energy system in Thornton. Check the table in this section to get an idea of the amount Thornton solar companies might quote for your specific solar system's price.
| 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 Thornton
Solar providers use 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), cash payments, solar leases and solar loans. Most solar experts recommend a cash payment 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. Like a home or car loan, you'll pay a set monthly rate with potentially $0 down. Solar leases allow you to rent your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, akin to an electric bill. Both options disqualify you for solar incentives and do not provide you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. We suggest working with an installer that offers multiple financing options. Speak with each consultant about what's available, and get more than one estimate for the best odds of keeping within your spending limits.
The table below lists the average payback periods for different capacities of solar systems in Thornton.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Further 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 Thornton
How much energy and money could I save per year by switching to solar?
How common is solar energy in Thornton?
Will a solar PV system boost my Thornton home value?
What if I live in a dark or heavily-wooded
How can I assess my property's solar suitability?
What's the average solar system size in Thornton?
What's the difference between a PPA and traditional financing?
In contrast, solar loans can come from local banks, the government, installer and specialty lenders. You'll need to pass a credit check to qualify for most of them. While the upfront costs are greater, and you'll be responsible for maintenance, you'll also have total ownership and can apply for many more benefits.
Should I get quotes from multiple Thornton solar companies?
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