Illinois is an ideal place for homeowners to go solar. Perfect weather, state incentives, and the federal tax credit make it an even more attractive option for the State’s residents. Illinois residents are used to extreme weather. But as scorching heat, tornadoes, and severe rain become more common across the State. Now clean, reliable, and safe energy is more important than ever. Solar energy gives you more control over your utility bills and energy consumption. Moreover, it minimizes your carbon footprint, which is essential for a sustainable future.
Is Illinois solar panel system worth it?
The average cost of Illinois solar panel system (residential) is approximately $11,397 after deducting the 26% federal solar tax credit, making it $2.57 per watt. The solar panel prices fell dramatically, almost 80% in the last ten years. The State and government have joined hands in offering inspiring rebates, incentives, net metering law, and tax exemptions to make it more attractive. Even the solar companies in Illinois are also offering special packages for homeowners to go Solar. Not only has that, but solar panel installation also boosts the property value and demand. It is much easier to sell the market. With the increase in utility bills, it is now much easier to enjoy the return on investment much quicker than before.
Is Illinois solar panel worth it?
What solar panels should I install in Illinois?
The user can customize their solar panels according to their needs and demands. They can choose the batteries and aesthetic of the installation. The customizability increases the importance of understanding the various factors that can impact the solar panel’s performance. The solar panel with warranties and premium performance is more expensive. On the other hand, an in-depth analysis is required if high-efficiency solar panels and warranties can fit your needs. Nevertheless, solar companies in Illinois are offering special discounted packages for homeowner to adopt solar energy more and more.
How much energy can users generate in Illinois?
Your solar panel performance depends on the quality and quantity of sunlight directly hitting your solar panel. Illinois isn’t one of the sunniest states in the U.S. On average, Illinois has 198 sunny days annually. Therefore, Illinois solar panel system is expected to produce less energy per annum than the system of the same size installed in other states like California or Southwest. The other factors which can have an impact on the Connecticut solar panel system include the following:
- Panel orientation
- Panel angle
Rebates and incentives
The federal Investment Tax Credit has been one of the most impactful and reliable incentives for solar across the U.S. the user can deduct 26% of the total system cost from his/her federal taxes. This advantageous incentive lasts until the end of 2022, and from 2023 the tax credit amount steps will decrease to 22%. The federal ITC is eliminated for residential solar installations after 2023, but commercial solar energy system owners can still deduct 10 percent of a commercial solar system cost from their taxes beyond 2023. Apart from the federal ITC, Illinois offer additional incentives for going solar, including the following:
Illinois Solar Incentives, Rebates and Tax Credits
Federal Solar Investment Tax Credit** (ITC)
26% federal solar tax credit is available for home solar systems installed by December 31, 2022
Solar Renewable Energy Credits (SRECs)
Compensation per kilowatt-hour (kWh) produced by the home solar project via 15-year contracts.7(Varies by market value)
Illinois Solar for All (ILSFA) Low-Income Community Solar Program
Eligible low-income renters and homeowners can buy or lease shares of the energy generated by the community solar system and get a credit on their utility bill.
If you are living in Illinois it is the right time to get solar. You can harness solar energy if the solar panels are getting enough sunlight. Moreover, the panels are placed in the direction where PVs can receive sunlight easily and continuously. The number of hours the sun shines in the region is also critical. Furthermore, the state is going the extra mile to offer attractions and incentives to promote solar energy. If you want to go solar in Illinois, wait no more and get in touch with solar companies in Illinois. We, with our team of skilled experts, can make the process easy and convenient. Wait no more, and lets us serve you with excellence.