15 Best Solar Companies in Lake In The Hills, IL (Mar 2023 Review)

The Cost and Benefits of Solar in Lake In The Hills

The cost of putting up solar panels has dropped significantly over the past few years, but it's still a substantial investment for most homeowners. Some main factors that affect how much it will cost to install solar panels on your home and how much it could save you over time are:

• Incentives: One thing that can save you money on 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 a decent amount of money on your utility bills, which can give you an average of $13,000 of savings over 20 years.
• Electricity consumption: The average household in Lake In The Hills uses a decent amount of, and as a result may save on their energy bills.
• System size and type: Some models are more pricy than others, so the one you get can raise or lower your upfront cost. Plus, the more solar panels you need to get, the more it'll cost.
• Whether or not your roof gets a lot of direct sunlight: This, and the configuration of your roof, affects affect how much electricity your solar panels can produce.

Although a solar panel system costs a good chunk of money upfront, it can save you a considerable amount over the lifespan of your panels. The question of how much, though, depends on several factors, such as the kind of solar panels you get and incentives.

Solar Incentives in Lake In The Hills

In an effort to increase the number of homes and businesses that use solar power, federal and local governments — and even some utility companies — offer incentives to help make going solar more economical and accessible. When you install a solar panel system on your house, you become eligible to claim the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. Plus, there are often some state and city incentives that you can take advantage of to further cut back on the cost of solar of solar panels. You can find out about the incentives you can use in our article on solar incentives

Environmental Impact of Switching to Solar in Lake In The Hills

There are a few key reasons why many people want to invest in solar energy: for the good of their bank accounts and the planet. But you may be curious — how much exactly can you help the planet by making the switch to solar? Regardless of your location, you can help protect the environment by switching to solar energy, but homes that use lots of energy will have an even greater impact. In fact, if you make the switch to solar power, you could lower your carbon dioxide emissions by about 90 pounds each year. For people who are concerned about the environment, the upfront cost of solar is a small price to pay for the offset carbon emissions.