You have heard a lot about renewable energy, but you’re still wondering if it’s worth it to get residential solar in Peoria IL. The trusted local solar experts at Sun Collectors can give you all the information you need. Call 309-204-9081 for a free consultation.
Many people worry about the initial investment it takes to convert to solar. However, a combination of great financing options, immediate energy cost savings, and tax incentives make it more affordable than you think. Just how much savings are we talking about when it comes to your power bill? Industry research from Solar Reviews shows that the average Illinois household can save over $33,000 on energy bills over the life of a solar system.
We thought that figure might catch your attention. Here’s another eye-catcher. Sun Collectors offers $0 money down financing. So, you don’t need to worry about spending all your savings on upfront costs. Are you interested in learning more? Contact us today to get more information.
When you convert to residential solar in Peoria IL, you can take advantage of many available incentives that pay back your investment. Both the federal government and state of Illinois support conversions to renewable energy. To help facilitate the switch to clean energy, federal and state incentives offer you an opportunity to offset your investment costs. Here are a few available programs:
With the Investment Tax Credit (ITC), you can deduct 30% of your cost to get residential solar in Peoria IL. However, the ITC applies only to those who buy their solar system outright with cash or by financing the cost. For instance, you could save $5,200 off the cost of a $20,000 solar system just in tax credits. Furthermore, the ITC program does not include a cap so you will continue to get a 30% tax write-off even with a more significant cost.
Under the Adjustable Block Program, also known as Illinois Shines, you can get paid getting residential solar in Peoria IL. For each megawatt-hour (MWh) of electricity your solar system produces, you receive one Solar Renewable Energy Credit (SREC). Illinois mandates power providers to buy those credits from you. Therefore, you can create a significant income stream with the average solar system providing upwards of 20 years of service.
With Illinois’ net metering policy, you can sell excess power you make by getting residential solar in Peoria IL. Therefore, net metering ensures you receive the full value of your solar panels. So, the program provides a way to balance your electricity production and consumption. Commonwealth Edison offers the top utility net metering program in Illinois.
Illinois residents know quite a bit about staggering property tax bills. When you’re deciding on whether to get residential solar in Peoria IL, you may worry about property tax increases. However, Illinois participates in a Special Assessment for Solar Energy Systems program. As a result, you will not get charged extra in taxes for the installation of your new solar system.
Did you know that your property’s resale value can increase by getting residential solar? Leading real-estate industry website Zillow released statistics that indicate a home with solar panels can sell 20% faster than homes without. Plus, your home can gain an average of 4% equity over electric homes on the market. In fact, homes with solar systems often gain a valuation of $20,000 more than homes still on the power grid.
Sun Collectors is your trusted local source for commercial, agricultural, and residential solar. Schedule a free consultation with our solar experts through our online contact form or by calling 309-204-9081. For your convenience, you can get more information by stopping at our office located at 4507 North Sterling Avenue, Suite 400, Peoria IL.
