13 Best Solar Companies in Peoria, IL (Oct 2022 Review)

The Cost and Benefits of Solar in Peoria

For many people, the decision of which solar installer to choose comes down to total costs. A few main factors that influence the cost of installing solar panels on your home and how much money you could save over time include:

• Your current electric bills: Solar panels can significantly decrease, or totally eliminate, your utility bills. In Peoria, you can save an average of $66 a month.
• 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, the more it'll cost.
• Where your home is: This affects how much sunlight your roof gets, which helps determine how many panels you need.
• Incentives: Along with the federal Solar Investment Tax Credit (ITC), which lets you receive a tax credit curretnly worth 30% of your total installation cost, your local government may offer additional tax exemptions, credits or rebates that will help you save even more. Excluding incentives, you can save an average of $12,000 over 20 years with your solar system, too.

Due to solar panels decreasing in cost as well as local and federal solar incentives, they are a cost-effective investment for many homeowners.

Solar Incentives in Peoria

Although solar power is typically a large investment, it can save you a considerable amount of money over many years because of reduced energy bills and government incentives. When you install solar panels, you can claim the federal tax credit, or ITC. This credit currently reduces your tax bill by 30% of the cost of your solar panels. In addition, there are often some local incentives that you can use to further cut back on the cost of solar of solar panels. The table below lists out the incentives you can take advantage of in Peoria.

Environmental Impact of Switching to Solar in Peoria

Installing solar panels is a compelling way to do what you can for a more environmentally-friendly future. A question many homeowners might be thinking about is how much can they really help protect the environment by switching to solar power anyway? If your household uses a lot of energy, you can help the environment even more by switching to solar power. In Peoria, the average household can lower their carbon footprint by 100 pounds a year once they go solar. If you want to do your part for the environment, you'll likely get that there are many advantages to adopting solar power other than just saving money on bills. You can also help protect the environment, which some would argue is invaluable.