Solar ENERGY in Illinois
Solar power is an excellent investment for your home in Illinois due to state-mandated net metering, the federal tax credit, and the state’s adjustable block program for the purchasing of renewable energy credits.
Not only will you reduce your carbon emissions when you switch to solar, you also greatly reduce how much you spend on power. A system in Illinois can pay for itself in as little as 10 years!
Illinois Solar Power Facts
$2.78 watt
Average cost: 5kW solar power system.
Average Payback time
On average it takes 3 Years to pay back the system.
Average Lifetime Savings
On average, solar power can save you $66,604 over your lifetime.
6¢ kWh
This is the levelized cost of solar energy.
28¢ kWh
This is the levelized cost of energy without solar panels.
11,538 kWh
Annual power production of home solar panels.
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How much do solar panels cost in Illinois?
Before 26% solar tax credit
Before 26% solar tax credit
Ave 15 year term, 2.5% price escalator
What are the pros and cons of installing solar panels in Illinois?
The advantages of installing solar panels in Illinois are the net metering law, the federal tax credit, and the ability to sell your renewable energy credits through the adjustable block program.
The disadvantage of installing solar panels in Illinois is that there are no statewide solar rebate programs or investor-owned utility residential rebate programs. Also, Illinois receives less sun than other states, which means a system in Illinois will produce less energy than a system in a sunnier state, like Arizona.
However, there is still potential for great savings in Illinois.