Solar Panels In Naperville In 2023

In 2023, more homeowners than ever before in Naperville, Illinois, are switching to solar panels to power their homes and businesses.

In this article, we’ll tell you exactly why solar makes sense in Naperville in 2023, discuss how much solar panels cost and what incentives are available, and tell you the easiest way to go solar in Illinois. Solar Panels In Naperville In 2023!

Why Choose Solar Panels In Naperville in 2023?

Solar panels have many benefits, besides the obvious one that they’re better for the planet than fossil fuels. Some of those benefits include:

Solar panels can significantly increase the value of your home according to a number of large scale studies, and they’ll make it sell faster
By installing solar panels, you can save tens of thousands of dollars over their service life, compared to what you would have otherwise paid in utility bills
Besides saving you lots of money, solar panels have zero carbon emissions after installation, which means they don’t contribute to climate change
There are several solar panel incentives available today that can significantly lower the overall cost of your installation
Besides incentives making solar panels a lot more affordable, the cost of solar panels is at a historic low point
In 2023, it’s even possible to get solar panels for free in Illinois

Solar Panels Increase Home Value

According to a 10 year study by the Lawrence Berkeley National Laboratory, which was published in 2015, installing solar panels can significantly increase the value of your home.

Of the homes assessed in the study, there was an average increase in value of roughly $15,000
The exact amount depended on factors such as system size, with an average increase of between $4,020 and $5,911 for each kilowatt of solar panels installed
An increase of $4,020 per kilowatt would mean an increase in value of $24,120 for a 6kW system, which is more than the average cost of installation for the system
Another study by the National Renewable Energy Laboratory (NREL) found that homes with solar panels sell 20% faster than equivalent properties without

Solar Panels Can Save You Tens Of Thousands

Solar Panels Can Save You Tens Of Thousands

Solar panels today can have long lifespans, and they save you money for the entire duration of their service life. The solar panels we supply at Green Home Makeover have a life expectancy of 40 years.

The amount of money you save as a result of your system depends on numerous factors, including the amount of electricity you use, your local electricity prices and how energy markets fluctuate over time. However:

According to Forbes, in Illinois, the average annual savings from a 6kW solar panel system is currently $1,391
With savings at this level, over a 40 year service life, a system of this size could eliminate $55,640 in utility costs, even without accounting for inflation
If you’re a homeowner that opts to lease rather than buy their solar panels, you can expect immediate savings of 35-40% in your utility costs

Solar Panels Have Zero Carbon Emissions

As we head further into the 2020s, the negative effects of climate change are increasingly apparent – forest fires, droughts and extreme weather events are becoming more and more common.

After installation, solar panels provide you with 100% clean energy, with zero carbon emissions, which significantly reduces your carbon footprint and helps in the fight against global warming.

If the world does not rapidly move towards being carbon neutral, we will damage the planet beyond repair. Installing solar panels is a great way to ensure we leave a habitable and prosperous world for the generations to come.

Solar Incentives Significantly Reduce The Cost Of Solar Panels

In 2023, there are a number of solar incentives that are available in Illinois that can significantly reduce the overall cost of your solar panel system. These incentives include:

The Federal Solar Investment Tax Credit

The Federal Solar Investment Tax Credit (ITC) is a tax credit worth 30% of the total cost of your solar panel system, available to eligible taxpayers that are purchasing, and not leasing, their system.

Most people are eligible, but every home is different and as solar consultants we’re not qualified to assess the eligibility of our clients.

Therefore, we advise anyone considering a solar upgrade for their home to consult with their accountant or CPA to confirm their eligibility before buying solar panels.

Solar Renewable Energy Certificates

Solar Renewable Energy Certificates (SRECs) are a solar incentive available in Illinois under the adjustable block program, which can significantly reduce the cost of purchasing solar panels.

The amount you get is calculated based on the size of your system, and is a lump sum payment that can be worth roughly 25% of the cost of your solar panels.

Some installers will apply on your behalf and automatically deduct the sum from what you pay, but if you have to apply yourself, you should be aware that it can take up to 18 months to receive the payment.

Solar Net Metering

Solar Net Metering is a scheme available in Illinois that allows you to reap the full benefit of your solar panel system, without having to purchase a solar battery.

The way it works is that you are able to generate utility credits for every kWh of excess electricity that you feed into the grid during peak sunlight hours, which can be offset against the cost of the electricity that you draw from the grid later.

Currently, the ratio of net metering is 1:1, meaning that you get back what you put in. However, it won’t remain at this level for new applicants indefinitely – so if you want maximum savings from your system, it’s advisable to take the leap before net metering ends.

The Cost Of Solar Panels Is Lower Than Ever

Since 2011, according to the Solar Energy Industries Association (SEIA), the average annual cost of solar panels has dropped by over 60%.

In 2011, the average cost of a 6kW solar panel system was somewhere in the region of $50,000, whereas today the average 6kW system costs between $16,677 and $22,562.

However, the high inflation since COVID, and especially since the global energy crisis, is leading to increases in the cost of materials and labor, so prices are once again beginning to rise.

Therefore, if you want to pay less for your solar panels, it’s better to install them sooner, rather than waiting around in hope of the cost decreasing any further.

How Much Do Solar Panels Cost In Naperville?

The average price per watt of solar panels in Naperville is $3.18 in 2023, which means that the average cost of a 6kW solar panel system is roughly $19,000, without factoring in tax credits.

You Can Get Free Solar Panels In Illinois

In 2023 in Illinois, it’s actually possible to get solar panels for free. There are two ways that you can do this:

The Illinois Solar For All (ILSFA) scheme, which provides free solar panels or shares in community solar projects to income-eligible applicants
A solar panel lease, which allows you to make immediate savings from solar, without any of the upfront costs associated with buying a system

Solar Is The Smart Choice In Naperville

If you’ve made it to the end of this blog article, you’re likely a Naperville resident who is considering switching to solar – and as we’ve outlined, it would be a smart choice.

However, if you’re researching how to get solar panels in Illinois, you’ll no doubt be realizing that the process isn’t quite as simple and straightforward as many people might think. That’s why Green Home Makeover is here to help.

We’re solar consultants with more than 8 years of industry experience, and we’ll manage your solar project from A to Z, so you can go solar without any hiccups or headaches along the way.

If you’d like to know more about how we can help you to get solar panels, get in touch today for a free, no-obligation consultation and quote.

Solar Panels In Naperville In 2023

Why Choose Solar Panels In Naperville in 2023?

The Federal Solar Investment Tax Credit

Solar Renewable Energy Certificates

Solar Net Metering

How Much Do Solar Panels Cost In Naperville?

Solar Is The Smart Choice In Naperville

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