16 Best Solar Companies in Lake Barrington, IL (Mar 2023 Review)

The Cost and Benefits of Solar in Lake Barrington

For many people considering switching to solar, the decision of which solar installer to go with depends on pricing. The cost of solar and the savings it generates vary depending on some important factors such as:

• The amount of sunlight your rooftop gets: Due to Lake Barrington's high amount of average daily sunlight, you should be able to save a decent amount on your electric bills.
• System size and type: Some models are more costly than others, so the one you want to get can raise or lower your upfront cost. Plus, the more solar panels you need to get, the more it'll cost.
• average energy usage: The more energy your household uses on average and the greater your current energy bills are, the more likely you'll benefit from switching to solar.
• Incentives: Something that can reduce the cost of your solar project is the solar investment tax credit (ITC), which is a tax credit that lets you deduct from your taxes a percentage of the project cost. You can also save money on your energy bills, which can give you an average of $14,000 of savings over 20 years.

So are solar panels worth it? Whether you hope to reduce your electricity costs, carbon emissions or both, solar panels are a solid investment for many Lake Barrington homeowners.

Solar Incentives in Lake Barrington

Since solar power is more sustainable than fossil fuels, there are a number of government incentives in place to encourage people to make the switch. You are eligible for the federal solar investment tax credit (ITC) for the tax year you turn on your a solar panel system. You can also possibly use the ITC with other local incentives. Check out our article on solar incentives to learn what incentives you can benefit from.

Environmental Impact of Switching to Solar in Lake Barrington

There are tons of reasons to make the switch to solar power, like saving money on utility bills and helping to lower your carbon footprint. But you may be wondering — how much exactly can you help the planet by using solar power? One thing to consider is your overall carbon footprint. For example, if you spend a lot of time in the car and have an electric vehicle, you can install solar panels on your home to power your EV and therefore help offset your carbon emissions. In fact, if you adopt solar power, you could lower 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 the offset carbon emissions.