Looking For Free Solar Panels Try Financing Your System With A Solar Loan Instead
The revolutionary thing about solar leases was that they made it possible for virtually anyone with a roof to go solar, regardless of whether they had cash in the bank to purchase a system. Solar leases were crucial in removing barriers to entry back when solar system prices were prohibitively high.
But times have changed substantially since solar leases were introduced. Solar systems are now more affordable than ever, now that financing options other than solar leases have become viable. The most important of these is the solar loan, which combines the zero-down aspect of the solar lease with the benefits of system ownership .
The falling cost of solar
So before you sign up for the first free solar panel or no cost solar program deal that comes your way, make sure you understand what youre being offered and that youve considered all of your other options. In other words, be a smart solar shopper.
Solar Companies In Illinois: Choosing Sunpro Solar As Your Solar Panel Installer
If youre looking for an honest, reliable Illinois solar installer, look no further. Sunpro Solar uses only experienced and qualified solar installers and high-quality brands for our materials such as LG solar panels and Enphase microinverters. We use nothing but the best people and the best brands because thats exactly what our customers deserve.
In addition, each solar panel installation we perform also comes with our 25 year Labor Warranty and our 25 year Production Guarantee. We will also perform a full energy audit on your home to ensure that you get the maximum possible savings with your solar panel system.
Sunpro Solar is here to provide all your solar needs. We offer turnkey solutions so you can switch to green, renewable energy with zero stress.
How Do I Find An Illinois Shines Approved Vendor
The Illinois shines website provides a list of approved vendors for the Illinois Shines program. Freedom Forever is an approved vendor in the program. Going with an approved vendor is a smart idea. The program has rigid requirements for honesty and integrity in marketing and advertising that protect you, the solar consumer.
For your solar system to participate in the Illinois Shines program, your approved vendor will submit an application to the program. You will receive a standard disclosure form that will identify the approved vendor which is participating in the Illinois Shines program.
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What Do Companies Mean When They Say Free Solar Panels
The terms free solar panels or no cost solar program are sometimes used to advertise solar lease or solar power purchase agreements . Under both types of arrangements, a company will put solar panels on your roof for no money up-front but will charge you for the electricity that they produce. Most offers will save you money but not all of them, so make sure youve thoroughly compared all your options. Also consider buying the solar panels or financing them with a zero-down solar loan.
So what do a companys marketers and salespeople mean when they say free solar panels or no cost solar program? Usually, they are referring to solar leases and power purchase agreements . Under these solar financing arrangements, a solar company will put a solar system on your roof at no up-front cost to you for installation, enrollment, or maintenance. This sounds great you get to say that your home is powered by clean energy, and can even point to the solar panels on your roof to prove it.
But the reality is that you do not technically own the system, and the solar energy the panels produce is not part of a no cost solar program. Under solar lease agreements, ownership is retained by the solar company, and you pay for the electricity it produces. In essence, the company has built a small power plant on your roof and is selling you the electricity.
Property Tax Exemption For Rockford Solar Panels
Whenever you improve your home, it often means that your home value increases. It also means youll most likely have to pay increased property taxes. However, you dont need to worry about that when you install solar panels in Rockford. Thats right, solar panels are completely property tax exempt in the state of Illinois. So you can enjoy all the added value your new solar panel system brings without paying any extra taxes.
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Solar Property Tax Exemption
Illinois offers a property tax exemption for solar power systems, which means you are not taxed for the increase in home value after installing them. For example, if you own a $250,000 home and the assessed value increases to $280,000 with solar panels, you will still be taxed on a value of $250,000.
Unfortunately, solar panels are not exempt from the states 6.25% sales tax. However, with all of the other Illinois solar incentives available, this only results in a slight increase in your out-of-pocket cost of solar panels.
Illinois Solar Education Association 2021 Solar Tour
Interested in supporting solar energy production but dont know where to start? Look no further than Northbrooks own backyard! Northbrooks businesses and residential neighbors with solar panels are eager to share their knowledge through Illinois Solar Education Associations 2021 Solar Tour. From a residents simple 11 panel array to a massive 3,095 panel array stretching across Northbrook Courts rooftop, our Village offers a wide range of exemplary cases to guide a pathway to clean and affordable energy. See this webpage for the full list of Northbrook locations on the ISEA 2021 Solar Tour.
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Are Solar Panels Worth It In Illinois
Solar panels have fallen in price by more than 80% in the last ten years. In 2020 they also remain subsidized by the 26% federal tax credit and the net metering law, making them an excellent investment. They offer a return well above the long term average return from both the share market and also property investment.
Another way to look at this question is the levelized amount you will pay for each kWh of power you will use over the next 25 years with and without solar panels. As you can see below the savings are significant.
Levelized cost of solar energy?Levelized cost per kWh is the cost of the solar system divided by the total number of kWh produced by a solar system over its lifetime
7¢ /kWh
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 states 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!
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Solar Renewable Energy Credits
Some states have a particularly strong focus on renewable energy, and their local utilities are obliged to meet quotas regarding the amount of energy that they produce from solar and other renewable sources.
This requirement has given rise to the solar renewable energy credit or . Households with solar systems capable of producing more than 1 MWh of electricity can claim SRECs. You can sell in addition to selling them your electricity. Its a kind of extra reward for going with solar power.
You Can Qualify For Free Home Solar Panels
You have probably seen the ads on TV and the internet for free home solar systems and thought to yourself ah come on, nothing is ever free, whats the catch? Well In the case of home solar panels in many cases there is no catch! You can actually get solar panels installed on your home at absolutely no charge to you.
But wait, thats not all, not only can you get solar panels installed for free you also get dramatically reduced monthly electricity bills with fixed rates for as long as 25 years.
But wait, thats not all, the free solar panels installed on your home are warrantied, monitored and maintained by your solar service provider, again at no charge to you, for as long as 25 years.
But wait thats not all, home solar has been shown to add as much as $25,000 to the value of your home, thats like money in the bank.
In many areas of the United States there are clean energy mandates that the power companies must meet to be in compliance with state and federal clean air policies. Most states have what is referred to as a Renewable Portfolio Standard that states a certain percentage of electricity produced by a power must come from renewable resources. If the power companies fail to meet the minimum standards they can face very steep fines. It is in the best interest of power companies in states with a stringent RPS to encourage the use of home solar power.
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% Federal Solar Tax Credit
One of the best ways to get your solar panels is to take advantage of the 26% Federal Solar tax credit. Because the federal government knows just how important renewable energy is, theyve implemented this incentive to encourage people to switch to solar. You may be eligible for 26% of the total cost of your solar panels back in tax credits, including the cost of installation!*
However, this great tax credit wont last forever. Starting January 1st 2023, the tax credit is reduced to 22%. And in 2024, it will be unavailable altogether for residential solar panels.
Why Choose Straightup Solar For Your Solar Panel Installation
If you are looking for a reliable, experienced Illinois solar installer that carries high-quality brands, StraightUp Solar is the right option for you. Our team has over a decade of experience in providing high-quality residential and commercial solar services to residents in Illinois and Missouri, and to date, StraightUp Solar has installed more than 1,700 residential and commercial-scale solar projects.
Each of our solar systems comes with a ten-year workmanship and production warranty because we are proud of the work we do as a full-service, turn-key solar EPC and installation company, and know that our customers deserve the absolute best.
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How To Choose A Solar Company In Rockford Il
Its helpful to remember the three most important tips when choosing a solar panel company in your area:
Comed Commercial Solar Rebates
ComEd, one of ILs largest utility companies, provides rebates for commercial and industrial customers to help decrease the out-of-pocket costs of installing solar. If youre a ComEd customer and install solar on your business, youre eligible for $250 per kilowatt of installed solar power. To receive the rebate, your solar panel system cannot be larger than 2,000 kW in capacity.
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How Do Solar Incentives Help
Federal tax credits help cover the cost of your solar system installation.
- Federal Tax Credit currently covers 26% of your system cost
- The Federal Tax Credit has been extended, so you can take advantage of the savings now!
- Other incentives vary by state. We stay up-to-date and will explain whats available for you.
You dont have to navigate this process by yourself. Our sales team knows the current incentives, rebates and promotions and will help you get the best pricing available. We pride ourselves on being the most knowledgeable and informed in the solar market.
Free Solar Panel Quote For Illinois Residents
If youre ready to take the next step, or even if youre considering what it would take to get you there, contact us to discover all your options.
We install solar and roofs in the state of Illinois. Contact us today to see if we service your area and get free solar quotes for your particular needs.
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What Is The Federal Tax Credit
One of the best ways to get your solar panels is to take advantage of the 26% federal solar tax credit. The federal government knows exactly how important renewable energy is so theyve implemented this incentive for federal taxes to encourage people to switch to solar. You may be eligible to get 26% of the total cost of your solar panels back in tax credits, including the cost of installation!*
However, this great tax credit wont last forever. Starting January 1st 2023, the tax credit is reduced to 22%. And in 2024, it will be unavailable altogether for residential solar panels.
Net Metering For Illinois Solar Energy
Another way to capitalize on your solar panels is net metering. With net metering, any excess solar power that your panels produce is sent to your utility grid. Your utility company will then credit your account with that extra energy, which will further lower your monthly bill.
Currently, it is required that all utility companies offer net metering to their customers for systems up to 100kW in size. In addition, any unused credits at the end of the month rollover, and are automatically applied to your next bill!
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Will Free Solar Panels Save You Money
You may have various reasons for going solar. If youre like most people, saving money, eliminating your utility bills and/or reducing your carbon footprint are probably at the top of the list. The environmental benefits of going solar are more or less the same regardless of who installs your system, so its key to focus on the financial benefits.
Regardless of its do-good image, the solar industry is an industry like any other: the companies offering products are looking to turn a profit. Providers of solar leases make their money by selling you electricity, usually at a lower rate than what you pay your utility.
Although companies like SolarCity once dominated the market for solar leases, countless other players have since entered the space and begun competing with each other. Some solar leases will save you more money than others. You as a solar shopper can now take your pick of company based on their offer. So even if financial gain is secondary to environmental considerations for you, you should still shop around to make sure youre getting the best deal.
Interested in learning about your local solar options? By shopping on the EnergySage Solar Marketplace you can compare not only solar lease options, but also purchase and solar loan options. Sign up today to get quotes from solar installers in your area.
Federal Solar Tax Credit
Strictly speaking, there is no Illinois tax credit for solar panels. However, the federal solar tax credit remains available in all states, and you can claim 26% of equipment and installation costs for all systems turned on before the end of 2022. If you miss out, you can still claim a 22% tax credit in 2023. From 2024 onward, unless Congress decides to extend the program, there will only be a 10% tax credit available for solar power systems owned by businesses.
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Illinois Solar Incentives Tax Credits & Rebates
When it comes to solar incentives available for residents of Illinois, theres plenty to talk about. Illinois is a great state to go solar thanks to the state incentives on top of the federal solar tax credit. If youre wondering what incentives are available to you, its best to discuss your particular situation with a Solar Specialist who is trained in understanding all the options for your area. In the meantime, here are some of the best incentives in Illinois for going solar.
See What Our Customers Are Saying
As one of many former Brevard Solar customers and losing $12,600.00 and waiting 10 months decided to go with Sunpro Solar. As of today 3/10/20 the installation was done with an awesome group of people beginning with sales rep Justin.C, installation coordinator Sydney W. the installation crew who did an amazing quality job. and passed all three inspections today.Thank you Sunpro Solar keep up the great work.
George K,
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What Are The Major Pitfalls Of Free Solar
Homeowners that sign solar PPAs or leases sign long-term lease agreements and make monthly lease payments to the provider that typically amount to a little less than their current utility bills. At the end of the lease’s term, homeowners can opt to purchase the system outright, or the solar leasing company can reclaim and remove the system.
PPAs and solar lease-installation companies typically include several important assumptions and contingencies into solar lease agreements, clauses or sections that can have a large impact on the ultimate value, and return on investment, that goes to the lessee .
