13 Best Solar Companies in Grayslake, IL (Sep 2022 Review)

The Cost and Benefits of Solar in Grayslake

We know that for most homeowners, the choice to invest in solar rests on installation costs. Some main factors that influence how much it will cost to install a solar panel system on your home and how much money you could save over time include:

• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your overall installation cost, your local government may offer additional tax exemptions, credits or rebates that can help you save even more. Excluding incentives, you can save an average of $14,000 over the first 20 years with your solar system, too.
• The amount of sunlight your home gets: Due to Grayslake's high amount of average daily sunlight, you should be able to save a decent amount on your electricity bills.
• How much you spend on energy: The average household in Grayslake shells out around $900 a year on energy use alone, so you could gain that much in savings.
• Choice of solar panels: The kind of solar panels you need 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 space isn't a constraint for your project, you can opt for a higher number of more affordable panels.

Even though a solar panel system costs a decent chunk of money upfront, it can save you a considerable amount in the long term. The question of how much, though, depends on several factors, including the size of your solar panel system and your energy consumption.

Solar Incentives in Grayslake

If you're thinking about switching to solar energy, a variety of government incentives and subsidies can greatly lower the installation costs and expedite the return on your investment. When you install solar panels on your home, you can take advatage of the federal tax credit, or ITC. This credit currently lets you reduce your tax bill by 30% of the cost of your solar panels. In addition, there may often be some regional incentives that you can benefit from to further cut back on the cost of solar of solar panels. The table below gives you an idea of the incentives you can benefit from in Grayslake.

Environmental Impact of Switching to Solar in Grayslake

There are lots of reasons to switch to solar power, like saving some money on electricity bills and helping to lower your carbon footprint. But how much can switching to solar actually help the environment? Everyone can help protect the environment by switching to solar energy, but homes that use a lot of energy will have a bigger impact. Because solar panels don't release CO2 emissions into the atmosphere when producing electricity, they're a good trade for traditional energy sources. In fact, you could look forward to lowering your carbon dioxide emissions by about 90 pounds each year. For those who are worried about the environment, the upfront cost of solar is a small price to pay for reducing your carbon footprint.