18 Best Solar Companies in Paxton, IL (Mar 2023 Review)

The Cost and Benefits of Solar in Paxton

While solar panels can help save you a good amount of money on energy over time, it's necessary to consider the startup costs. The overall price and potential savings vary depending on some key factors such as:

• Choice of solar panels: The kind of solar panels you want will affect your total cost. High-efficiency monocrystalline panels will cost more upfront but can also lead to more savings over the lifetime of your system. If space isn't a constraint for your project, you can opt for a higher number of more affordable panels.
• The cost of electricity in your area: If your local power rates are quite high, there's a good chance you'll see a higher return on your investment in a solar system. In Paxton, you can save an average of $84 a month on your electricity bills.
• average energy usage: The more energy your household consumes on average and the higher your current energy bills are, the more likely you'll benefit from switching to solar.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which gives you a tax credit currently worth 30% of your overall installation cost, your state or local government may offer additional tax exemptions, credits or rebates that can help you save even more. Aside from incentives, you can save an average of $15,000 over 20 years with your solar system, too.

Because of the cost of solar panels being lower than before as well as local and federal solar incentives, they are a sound investment for most homeowners.

Solar Incentives in Paxton

To increase solar panel installation and usage, incentives are offered by the government — and even some utility companies — to help make solar power more economical and accessible. There are a lot of federal, state and local rebates and tax credits that let you earn anywhere from 30% to 50% of your money back after buying a qualifying system. You can learn about the incentives you can use in our article on solar incentives

Environmental Impact of Switching to Solar in Paxton

Installing solar panels is a compelling way to do what you can for a more environmentally-friendly future. But how much can switching to solar actually affect the environment? If your household consumes a lot of energy, you can help the environment even more by switching to solar power. In Paxton, the average person can reduce their carbon footprint by 100 pounds a year once they go solar. For people who are concerned about the environment, the upfront cost of solar is a small price to pay for offsetting your carbon emissions.