15 Best Solar Companies in Washington Park, IL (Jan 2023 Review)

The Cost and Benefits of Solar in Washington Park

The cost of putting up a solar panel system has dropped greatly over the past several years, but it's still a large investment for most homeowners. Some significant things that impact the cost and possible savings include:

• Incentives: The federal solar investment tax credit currently lets you reduce your taxes by 30% of the project cost. Your state and city may also have incentives and rebates that you can use. Plus, you can save about $12,000 over 20 years on your utility bills, not including incentives.
• Your household's power bills: Based on the high monthly electricity bills in Washington Park, you could save about $790 a year with solar.
• Your income and budget: This shapes what type of solar panels you can purchase.
• Your location: This affects how much sunlight your roof receives, which helps determine how many panels you need.

Though a solar panel system costs a sizable chunk of money upfront, it can save you a considerable amount over the lifespan of your panels. The question of how much, though, depends on several factors, such as the size of your house and your current power bills.

Solar Incentives in Washington Park

One of the good things about installing a solar panel system is earning federal and potentially state incentives. When you install solar panels, you can claim the federal tax credit, or ITC. This credit currently lets you reduce your tax bill by 30% of the cost of your solar panels. In addition, there may often be some state and city incentives that you can use to further cut back on the cost of solar of solar panels. In our article on solar incentives, you can see the incentives you qualify for near you.

Environmental Impact of Switching to Solar in Washington Park

There are tons of reasons to make the switch to solar power, like saving money on electricity bills and helping to reduce your carbon footprint. You may be asking yourself — how much does making the switch help the environment anyway? Adopting solar power is a sustainable choice for the environment, because the largest source of greenhouse gas emissions in the U.S. is from burning fossil fuels for electricity, heat, and transportation — all of which can be powered by solar instead. If you go solar, your carbon dioxide emissions can be reduced by about 100 pounds a year. The great things about solar power are plentiful — just like solar power is! That's why so many homeowners have been happy with making the switch to solar.