15 Best Solar Companies in Homewood, IL (Jan 2023 Review)

The Cost and Benefits of Solar in Homewood

We know that for lots of homeowners, the choice to invest in solar rests on installation costs. Some key things that determine the cost and possible savings include:

• The amount of sunlight your home gets: Because of Homewood's high amount of average daily sunlight, you should be able to save a decent amount on your energy bills.
• Your current power bills: Solar panels can significantly reduce, or completely get rid of, your utility bills. In Homewood, you can save an average of $75 a month.
• Choice of solar panels: The type of solar panels you get will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also save you more money 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.
• Incentives: The federal solar investment tax credit, which everyone qualifies for, lets you deduct 30% of the cost of installing your solar panel system from your federal taxes. Plus, not including incentives, you can save about $13,000 over 20 years on your energy bills.

There are several great benefits of solar even with the initial cost of installation. It can help the environment and your bank account. Additionally, it can increase the value of your home, leading to even more benefits if you want to sell your home later.

Solar Incentives in Homewood

In order to increase the number of homes and businesses that use solar power, federal, state and local governments — and even some utility companies — offer incentives to help make switching to solar power more affordable and accessible. Everyone can take advantage of the federal Solar Investment Tax Credit (ITC), which lets you claim 30% of how much you paid for your solar installation on your tax return, lowering the amount of taxes you owe that year. Plus, there may be some state and city incentives that can save you some extra money too. For comprehensive information about incentives for homeowners in Homewood, check out our our article on solar incentives.

Environmental Impact of Switching to Solar in Homewood

Making the switch to solar power is a good way to do your part for a more environmentally-friendly future. You may be asking yourself — how much does going solar help the environment anyway? How much energy you use is an important factor to keep in mind. The more energy your home uses, the greater your impact when you make the switch to solar power. In Homewood, the average resident can lower their carbon footprint by 90 pounds a year after going solar. As you can see, using solar power has so many other benefits apart from saving money. One of the major ones is that you can help save the Earth too.