12 Best Solar Companies in Palatine, IL (Sep 2022 Review)

The Cost and Benefits of Solar in Palatine

We understand that for many homeowners, the decision to invest in solar hinges on installation costs. The cost of solar and the savings it generates vary depending on a few important factors such as:

• The kind of solar panels you can buy: This is dependent on how much you're willing to spend upfront.
• Your energy consumption: If your household regularly uses a lot of energy, you'll benefit more from installing solar panels.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 30% of your total installation cost, your state or local government may offer additional tax exemptions, credits or rebates that will help you save even more. Not including incentives, you can save an average of $13,000 over the first 20 years with your solar panels, too.
• How much you spend on energy: If your local electricity rates are high, there's a better chance you'll end up with a higher return on your investment in a solar system. In Palatine, you can save an average of $75 a month on your electricity bills.

Even though a solar panel system costs a decent chunk of money upfront, it can save you much more over the lifespan of your panels. The question of how much, though, depends on a number of factors, including the size of your solar panel system and your local electricity rates.

Solar Incentives in Palatine

Because solar power is more sustainable than burning fossil fuels, there are various government incentives in place to encourage its adoption. These incentives usually include cash rebates, tax breaks and/or performance-based incentives. They can cut the cost you pay for going solar by 26 to 50% in some cases. In the table below, you can find out about the incentives you qualify for in your area.

Environmental Impact of Switching to Solar in Palatine

A lot of people want to do their part to help the environment, which for many is the prime reason for installing solar panels. But how much can switching to solar actually affect the environment? In Palatine, where the energy generation can be rather dirty, going solar can have a big effect on the planet since solar power has a lower carbon footprint. Since solar panels don't release carbon dioxide emissions into the atmosphere when generating electricity, they're a good substitute for traditional energy sources. In fact, you could lower your carbon dioxide emissions by about 90 pounds each year. As you can see, using solar power has so many other perks apart from saving money. One of the most important ones is that you can help save the Earth too.