15 Best Solar Companies in Fox Lake, IL (2023 Reviews)

The Cost and Benefits of Solar in Fox Lake

The cost of putting up solar panels has dropped significantly over the past several years, but it's still a significant investment for most homeowners. The installation cost is just one important factor you should bear in mind when looking into installing solar panels. How much it'll cost and how much you can save depend on things such as:

• Incentives: Something that can make your solar project cost less 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 a decent amount of money on your utility bills, which can lead to an average of $13,000 of savings over 20 years.
• How much energy costs for you: If your local utility rates are high, there's a better chance you'll have a higher return on your investment in a solar system. In Fox Lake, you can save an average of $75 a month on your electricity bills.
• Your income and budget: This affects what kind of solar panels you can get.
• Typical energy usage: The more power your home uses on average and the greater your current power bills are, the more benefits you'll see from making the switch to solar.

There are many great benefits of solar even with the upfront cost of installation. It can help the Earth and your finances. In addition, it can boost the value of your home, giving you even more benefits if you want to sell your home later.

Solar Incentives in Fox Lake

Although installing solar panels is typically a $15,000 to $25,000 investment, it can save you much money over many years because of smaller utility bills and government incentives. These incentives usually take the form of cash rebates, tax breaks and/or solar renewable energy credits. They can cut how much you end up spending on going solar by 30%, upwards of 50% depending on where you live. In our article on solar incentives, you can see the incentives you qualify for in your area.

Environmental Impact of Switching to Solar in Fox Lake

Lots of people want to do their part to help save the planet, which in many cases is the prime motivation to install solar panels. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Fox Lake, though. No matter where you are, you can help the planet by switching to solar energy, but homes that consume lots of energy will have an even greater impact. While making solar panels releases carbon dioxide emissions, the panels make up for it by greatly reducing the amount of CO2 you would have produced if you still used nonrenewable energy. In Fox Lake, you can reduce your carbon footprint by 90 pounds a year with solar panels. As you can see, using solar power has so many other benefits beyond saving money. One of the most important ones is that you can help save the environment too.