Benefits of Solar Energy
Solar energy offers several advantages that will enhance your home for years to come.
- Reduced carbon footprint: Utilizing solar is a surefire way to reduce your carbon footprint and home fossil fuel dependency.
- 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 offer net metering which can allow you to sell your unused energy back to help pay for your energy bill.
- Better energy independence: Adding a battery storage system lets you have dependable energy during storms and grid outages.
What Solar Incentives Are Available to Tinley Park Homeowners?
Illinois homeowners who upgrade to solar could qualify for reimbursements, rebates, tax credits and special financing. 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 Tinley Park
Choosing a company is the first step toward a well-oiled and cost-efficient solar system. Consider all of these aspects in your service provider search.
Licensing and Training
In Illinois, the state Commerce Commission regulates distributed generation energy contractors, including residential solar contractors. Look for private accreditations from the North American Board of Certified Energy Practitioners (NABCEP), among the solar industry's most reputed trade groups. Its program includes certifications for both solar photovoltaic and water heating installers.
Cost of Solar Panels in Tinley Park
The style 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 work with a tried-and-true mechanism and cost less, but produce less power. Thin-film panels aren't recommended for large residential installations, but they are ideal for small projects like converting RVs and sheds.
If you need to charge an electric car or use your solar power in dark weather, you can pay extra for accessories. By choosing the right components, you can make your panel array more productive and user-friendly. Not all solar contractors provide these extras, so look for a provider that sells them if it's crucial for you.
If you're a resident of Tinley Park and are considering getting a five-kilowatt solar energy system, you could expect to pay about $18,800 for materials and labor. Find more information on specific component and solar panel costs 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 Tinley Park
There are various ways to pay for a solar energy system, and the right one will reduce your expenses. A few of the most common options include cash payments, power purchase agreements (PPAs), leases, and loans. We suggest paying with cash or using a solar loan for the best 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 own 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 benefiting from energy bill savings and solar incentives. However, you’ll spend more in total due to accruing interest. Solar leases let you rent your panels for a fixed monthly rate, while PPAs let you pay only for the energy you use, similar to an electric bill. Both options disqualify you for solar incentives and don't grant you system ownership. Solar experts generally don't recommend them, but they might be suitable in some cases. Look for installers that offer multiple 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 Tinley Park.
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 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 |
Ready to Get a Quote on Your Solar Project?
Please enter a valid 5-digit zip code!
Frequently Asked Questions About Solar in Tinley Park
How much money could I save by going solar in Tinley Park?
Is solar energy widely available in Tinley Park?
Will solar panels increase my Tinley Park home value?
Could I still use solar power if I live in a rainy, wooded, or dark area?
Is solar installation a fast job?
What's the average solar system size in Tinley Park?
How can I enhance my solar array'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
How are a solar lease and PPA different?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
To share feedback or ask a question about this article, send a note to our Reviews Team at reviewsteam@thisoldhousereviews.com.