15 Best Solar Companies in Lake Forest, IL (Feb 2023 Review)

The Cost and Benefits of Solar in Lake Forest

For most homeowners, the decision to invest in a solar energy system comes down to the cost. The installation cost is just one important factor you should keep in mind when looking into installing solar panels. How much it'll cost and how much you can save depend on things including:

• How much you spend on energy: The typical household in Lake Forest pays around $900 a year on electricity alone, so you could gain that much in savings.
• System size and type: Some models are more expensive than others, so the one you want can raise or lower your initial investment. Plus, the more solar panels you need to get, the more it'll cost.
• Average daily sunlight: Since Lake Forest gets a decent amount of average daily sunlight, your solar panels can generally generate enough energy to power your whole home, which affects how much your electricity bills will be.
• Incentives: The federal solar investment tax credit currently lets you lower your taxes by 30% of the project cost. Your state and city may also have incentives and rebates that you can benefit from. Additionally, you can save about $14,000 over 20 years on your utility bills, without incentives.

Due to solar panels now being cheaper than ever as well as various solar incentives, they are a worthwhile investment for many homeowners.

Solar Incentives in Lake Forest

One of the great things about installing a solar panel system is receiving federal and potentially state incentives. You can qualify for the federal solar investment tax credit (ITC) for the tax year you turn on your solar panels. You can also potentially pair the ITC with other state and city rebates and benefits. For comprehensive information about incentives that apply to you, visit our our article on solar incentives.

Environmental Impact of Switching to Solar in Lake Forest

One of the reasons so many consider switching to solar power is to help reduce their environmental impact. Many homeowners might be wondering how much exactly they can impact the environment by switching to solar in Lake Forest, though. No matter where you are, you can help save the environment by switching to solar energy, but homes that consume more energy will have an even greater impact. In fact, if you install solar panels, you could reduce your carbon dioxide emissions by about 90 pounds each year. As you can see, investing in solar has so many other perks apart from saving money. One of the main ones is that you can help save the planet too.