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

The Cost and Benefits of Solar in Streamwood

Solar panels run off a free energy source — the sun — but to take advantage of this you will first need to pay to set up your system. The cost and possible savings vary depending on some important factors such as:

• Your income and budget: This affects what type of solar panels you can buy.
• How much energy costs for you: If your local power rates are high, there's a good chance you'll have a higher return on your investment in a solar panel system. In Streamwood, you can save an average of $75 a month on your electricity bills.
• Incentives: The federal solar investment tax credit, which everyone in the U.S. is eligible for, lets you deduct 30% of the cost of installing your solar panel system from your taxes. Plus, not including incentives, you can save about $13,000 over 20 years on your energy bills.
• Average daily sunlight: Since Streamwood gets a decent amount of average daily sunlight, your solar panels can generally generate enough energy to power your whole home, which impacts how much you can save on your energy bills.

Even though a solar panel system costs a good chunk of money upfront, it can save you a considerable amount in the long term. The question of how much, though, depends on several factors, including the size of your house and your local electricity rates.

Solar Incentives in Streamwood

In order 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 switching to solar power more economical and accessible. When you install solar panels on your home, you can take advatage of 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 may often be some regional incentives that you can use to further cut back on the cost of solar of solar panels. For detailed information about local incentives, visit our our article on solar incentives.

Environmental Impact of Switching to Solar in Streamwood

If you're considering adding solar panels to your home, one of the principal reasons why may be to reduce your reliance on nonrenewable energy. Something many people might have in mind is how much can they really help save the environment by switching to solar power anyway? How much energy you use is a significant factor to consider. The more electricity your home uses, the larger your impact when you switch to solar energy. In Streamwood, the average homeowner can lower their carbon footprint by 90 pounds a year after going solar. If you care about the environment, you'll most likely understand that there are many benefits of adopting solar energy other than just saving money on bills. You can also help protect the environment, which some would argue is worth more.