13 Best Solar Companies in Belvidere, IL (Jun 2022 Review)

The Cost and Benefits of Solar in Belvidere

The cost of putting up solar panels has gone down immensely over the past few years, but it's still a significant investment for most homeowners. The cost of solar and the savings it generates vary depending on a few important factors such as:

• Your energy consumption: If your family regularly uses a lot of energy, you'll reap more rewards from installing solar panels.
• Incentives: Something that can save you money on your solar project is the solar investment tax credit (ITC), which is a tax credit that's equal to a percentage of the project cost. You can also save on your utility bills, which can result in an average of $14,000 of savings over 20 years.
• System size and type: Some models are more costly than others, so the one you want can raise or lower your initial investment. Plus, the more solar panels you need to buy, the more it'll cost.
• Your energy bills: This will affect how much money you might save. In Belvidere, the average homeowner can save about $950 a year on their electricity bills.

There are lots of wonderful benefits of solar in spite of the initial cost of installation. It can help the planet and your bank account. Plus, it can raise the value of your home, resulting in even more benefits if you decide to sell your home later.

Solar Incentives in Belvidere

If you're planning on switching to solar energy, a variety of government incentives and tax credits can greatly reduce your project costs and speed up the return on your investment. When you install a solar panel system, you can take advatage of the federal tax credit, or ITC. This credit currently lets you reduce your tax bill by 26% of the cost of your solar panels. In addition, there may often be some local incentives that you can benefit from to further cut back on the cost of solar of solar panels. You can find out about the incentives you can take advantage of in the table below.

Environmental Impact of Switching to Solar in Belvidere

Making the switch to solar power is a compelling way to do what you can for a more sustainable future. You may be asking yourself — how much does making the switch help the environment anyway? One thing you should consider is your overall carbon footprint. For example, if you spend a lot of time on the road and have an electric vehicle, you can install solar panels on your home to power your EV and therefore help offset your carbon emissions. Because solar panels don't release greenhouse gas emissions into the atmosphere when creating electricity, they're a good trade for nonrenewable energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 90 pounds each year. If you care about the environment, you'll no doubt get that there are many advantages to adopting solar power other than just saving money on electricity. You can also help protect the environment, which some would argue is worth more.