16 Best Solar Companies in Bloomingdale, IL (Aug 2022 Review)

The Cost and Benefits of Solar in Bloomingdale

The cost of installing solar panels has decreased significantly over the past several years, but it's still a substantial investment for most homeowners. Some main factors that dictate how much it will cost to install a solar panel system on your home and how much it could save you over time include:

• Incentives: One thing that can reduce the cost of 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 lead to an average of $13,000 of savings over 20 years.
• Choice of solar panels: The kind of solar panels you get will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also lead to more savings over the lifetime of your system. If you don't need to maximize efficiency, you can opt for a higher number of more affordable panels.
• Your location: This affects how much sunlight your roof receives, which helps determine how many panels you need.
• average energy usage: The more electricity your household uses on average and the higher your current electricity bills are, the more benefits you'll see from making the switch to solar.

There are many great benefits of solar in spite of the upfront cost of installation. It can help the Earth and your finances. Additionally, it can increase the value of your home, giving you even more benefits if you choose to sell your home later.

Solar Incentives in Bloomingdale

Although solar power is typically a $15,000 to $25,000 investment, it can save you a lot of money over several years due to lower energy bills and government incentives. When you install solar panels, you become eligible to claim the federal tax credit, or ITC. This credit currently lets you lower your tax bill by 26% of the cost of your solar panels. In addition, there may often be some regional incentives that you can benefit from to further save. Take a look at the table below to find out what incentives you can benefit from.

Environmental Impact of Switching to Solar in Bloomingdale

There are lots of reasons to switch to solar power, like saving money on utility bills and helping to lower your carbon footprint. You may be asking yourself — how much does going solar help the environment anyway? Regardless of your location, you can help the planet by switching to solar energy, but homes that use a lot of energy will have an even greater impact. While solar panel production emits carbon dioxide, the panels make up for it by significantly reducing the amount of CO2 you would have released if you still used nonrenewable energy. In Bloomingdale, you can reduce your carbon footprint by 90 pounds a year with solar panels. Since solar energy is renewable and makes electricity without releasing carbon emissions, making the switch to solar power is one easy step you can take to help protect the environment.