Benefits of Solar Energy
Solar energy has multiple advantages that will enhance your home for years to come.
- Reduced carbon footprint: Solar is one of the universe's most abundant clean energy sources, meaning you can minimize or conquer your home's dependence on "traditional" sources.
- Better energy independence: Solar panel systems can keep your home powered through blackouts and emergencies, giving you additional security. You can use your solar energy anytime with an optional battery storage system.
- Lowered energy bills: Solar panels let you generate your own energy to power your home, lowering your periodic electricity costs. You can eliminate your bills completely if you go off-grid. Plus, a significant amount of states have adopted net metering, which permit you to earn money by selling your unused energy back to the grid.
What Solar Incentives Are Available to Waukegan Homeowners?
Illinois homeowners who choose solar could qualify for special financing, rebates, reimbursements and tax credits. Here are just a few of the local 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 Waukegan
The cost and performance of solar panels often hinge on the provider that installed them. Make your choice based on the following crucial aspects.
Licensing and Training
In Illinois, the state Commerce Commission licenses distributed generation energy contractors, including home solar installers. You should also visit a company's website to learn about its private certifications. Two of the most respected are the Solar Heating Installer and PV Installation Professional 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 Waukegan
The type 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 recommended for large residential installations, but they are ideal for small projects like converting RVs and sheds.
Additional system add-ons, such as electric vehicle (EV) chargers and battery storage, will raise your overall installation costs. However, they might make your solar system more efficient and convenient to use. Not every solar provider includes these additional features, so look for a provider that installs them if it's essential for you.
If you're a resident of Waukegan and are considering getting a five-kilowatt solar energy system, you could expect to pay about $18,800 for materials and labor. See more information on specific component and solar panel costs in the table.
| 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 Waukegan
Choosing the optimal financing solution will influence your overall solar system cost and expected savings. Common payment options include cash payments, loans, leases, and power purchase agreements. Though it requires a large up-front payment, cash is the most cost-effective choice because it doesn't accrue interest and qualifies you for incentives. Solar loans are the next best option. As with a car loan or mortgage, you'll pay a monthly rate towards system ownership, including interest. You can still apply for cost-saving solar incentives, and depending on your lender, you could put as little as $0 down. Solar leases let you rent your panels for a set monthly rate, while PPAs let you pay just 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. Ask each installer you're considering about the payment plans it offers. A staff member can help you determine the optimal option for your pocketbook.
The table below lists the average payback periods for different capacities of solar systems in Waukegan.
You are eligible for a 26% federal solar tax credit for new solar power systems until the year 2032. Municipal and state governments and utility companies might also offer rebates, discounts, and unique financing solutions 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 Waukegan
How much energy and money could I save per year by switching to solar?
Is solar energy widely available in Waukegan?
Will solar energy systems raise my Waukegan home price?
What's a Waukegan solar panel's average lifespan?
How do I care for my new solar system?
What size should my new Waukegan solar system be?
How does "net metering" work, and do I need to participate?
Some states or utilities require you to participate in net metering when purchasing your solar system, while others give you a choice. Either way, once you join, you'll receive a check or bill credit for your excess generation at a wholesale or retail rate.
What's the difference between a PPA and a solar lease?
You don't own the panels with either option, though you can choose to opt out of the contract for a fee.
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