Save Money with Solar
Solar hasn’t always been a good deal for Illinois homeowners. But thanks to major new incentives, solar is more than sustainable energy – it’s also a great way to save money!
Annual Utility Bill Savings
Illinois homeowners who install a typical residential solar system can expect to save $1,000-2,000 per year on their utility bills.*
Net Savings over 20 Years
After accounting for the cost of the solar system, net savings add up to about $20,000 over 20 years.*
Cut Your Utility Bill
Most northern Illinois homeowners rely on ComEd to supply all of their electricity. A home solar system can change that.
Your solar system will produce most or all of the energy you need, so your utility bill will drop dramatically. Most customers can expect to save $1,000-$2,000 per year.
A typical Chicago-area homeowner who installs solar could save $20,000 or more on electricity over the next 20 years, even after accounting for the cost of equipment and installation.*
However, solar systems tend to last as many as 30 years, so actual solar savings may be greater.
Within a few years, your solar savings will pay for your initial investment. After that, you’re essentially consuming free electricity.
Make a Smart Investment
Another reason to go solar is it’s an outstanding investment opportunity. In our blog post “Is Solar a Good Investment?”, we compare a $10,000 investment in solar to a $10,000 investment in the stock market.
We looked at homeowners with annual incomes between $80,000 and $1,000,000. In all cases, an investment in solar performed better than an investment in the stock market.*
Another way to think about it is to ask: How well would the stock market have to perform in order for stocks to be more attractive than solar?
In order for a “stocks-only” approach to come out ahead, the stock market would have to average 14% returns annually for 20 years. That’s only been the case twice since 1927 (starting in 1978 and 1979)!
Get Federal and Illinois Solar Incentives
Illinois homeowners who install solar benefit from both federal and Illinois incentives.
The federal incentive is a solar tax credit equal to 30 percent of the cost of the solar system. A credit is a direct reduction in the amount of federal income tax you would otherwise have to pay.
Homeowners can also receive an incentive payment from their utility. This Illinois incentive is also worth about 30 percent of the cost of the system (although it varies slightly depending on your situation).
Combined, the federal and Illinois incentives add up to about 60 percent of the system value. In other words, if you buy solar, you’ll end up being reimbursed for well over half of the system’s price.*
Illinois Solar Incentive Countdown
Enter your information below for a completely-free, no-obligation consultation.
We will only use your information to do a preliminary analysis of your home and to contact you to schedule an email, phone, or in-person consultation.
* Estimates based on a typical system and homeowner. Your actual results will depend on the size of your system, its orientation to the sun, shading, your utility, your income tax rate, and other factors. Certasun is not acting in a fiduciary capacity. You should consult your own financial, tax, accounting, and other advisors. Past performance is not a guarantee of future performance.