Benefits of Solar Energy
Solar energy provides multiple advantages that will enhance your home for years to come.
- Better energy independence: Solar panel systems can keep your home functioning through blackouts and emergencies. You can use your solar energy anytime with an optional battery storage system.
- Reduced carbon footprint: Using clean solar power means you're less dependent on fossil fuels, which emit harmful greenhouse gasses.
- Lowered energy bills: Solar panels allow you to 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 number 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 Wheeling Homeowners?
Governments and power companies often incentivize homeowners for adopting 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 Wheeling
Choosing a company is the first step toward an effective and cost-efficient solar energy system. Make your choice based on the following important considerations.
Licensing and Training
In Illinois, the state Commerce Commission issues licenses to 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 Solar Heating Installer and PV Installation Professional certificates, awarded 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 Wheeling
Your solar modules' type will influence how much electricity you can generate. Monocrystalline panels are among the highest quality and perform the best but cost the most. Polycrystalline panels offer you a budget panel with a traditional design, but at the cost of less power generation. Thin-film panels have a low cost and are excellent for non-traditional roofs, but aren't recommended for large home installations.
Additional accessories, 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 add-ons, so look for a contractor 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 Wheeling. Check the table in this section to get an idea of how much Wheeling 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 Wheeling
There are many ways to pay for new solar panels, and the right one will help you decrease overhead. A few of the most common options include leases, loans, cash payments, and power purchase agreements (PPAs). We advise paying with cash or securing 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 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 spend 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 based only on the energy you use, like an electric bill. We usually don’t recommend these two choices because you won't own the panels and are disqualified from using solar incentives. We advise working with an installer that offers multiple financing options. Speak with each agent about what's available, and secure more than one estimate for the best odds of staying within your budget.
The table below lists the average payback periods for different capacities of solar systems in Wheeling.
A 26% federal solar tax credit applies to new home solar systems purchased through 2032. Further incentives may be available through city and state 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 Wheeling
How much energy and money could I save per year by switching to solar?
How widespread is solar energy in Wheeling?
Will a solar PV system increase my Wheeling home value?
What if I live in a dark or heavily-wooded
What can I do to estimate my home's solar potential?
What size should my new Wheeling solar system be?
What is "net metering," and how does it work?
Some states or utilities require you to participate in net metering when installing your solar system, while others give you a choice. Either way, once you sign up, you'll earn a check or bill credit for your excess generation at a wholesale or retail rate.
How are a solar lease and PPA different?
You don't own the panels with either option, though you can choose to "buy out" of the contract for a fee.
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