14 Best Solar Companies in Mount Prospect, IL (Aug 2022 Review)

The Cost and Benefits of Solar in Mount Prospect

The cost of putting up a solar panel system has gone down immensely over the past several years, but it's still a substantial investment for most homeowners. The cost and possible savings vary depending on some key factors such as:

• How much energy costs for you: The typical household in Mount Prospect shells out around $900 a year on home energy use alone, so you could be looking at that much in savings.
• Choice of solar panels: The kind of solar panels you choose will affect your total cost. High-efficiency monocrystalline panels are more expensive upfront but can also save you more money over the lifetime of your system. If space isn't a constraint for your project, you can go with a higher number of more affordable panels.
• average energy usage: The more power your household consumes on average and the steeper your current power bills are, the more benefits you'll see from switching to solar.
• Incentives: The federal solar investment tax credit currently lets you lower your taxes by 26% of the project cost. Your state may also have incentives and rebates that you can use. Plus, you can save about $13,000 over 20 years on your utility bills, before factoring in incentives.

Due to the cost of solar panels being lower than before as well as several solar incentives, they are a cost-effective investment for most homeowners.

Solar Incentives in Mount Prospect

One of the benefits of installing a solar panel system is receiving federal and potentially state incentives. These incentives typically take the form of cash rebates, tax benefits and/or performance-based incentives. They can cut how much you pay for going solar by 26 to 50% in some cases. Check out the table below to see what incentives you can take advantage of.

Environmental Impact of Switching to Solar in Mount Prospect

If you're planning on adding solar panels to your home, one of the major reasons why may be to lower your carbon dioxide emissions. Something many might have in mind is how much can they really help save the environment by switching to solar power anyway? If your home uses lots of energy, you can have an even greater impact on the planet by switching to solar power. Since solar panels don't release CO2 emissions into the atmosphere when producing electricity, they're a good alternative to traditional energy sources. In fact, you could expect to reduce your carbon dioxide emissions by about 90 pounds each year. The benefits of solar power are plentiful — just like solar power is! That's why so many homeowners have been happy with making the switch to solar.