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Illinois is requiring 25% of its energy to be solar by 2025. By going solar, you contribute to sustainability efforts and possibly save some money while you’re at it!
The Growing Importance of Renewable Energy
The growing importance of renewable energy is driven by environmental concerns, energy security, economic benefits, technological progress, global commitments, public support, and the need for a sustainable and resilient energy system. This transition is not just a choice but a necessity to combat climate change, foster economic growth, and secure a more sustainable and prosperous future for all.
Economic Advantages
Environmental Benefits
Energy Independence
Supporting Illinois' Renewable Energy Goals
1. Economic Advantages
Energy Cost Savings
Solar panels can significantly cut your electric bills, potentially saving you up to $1,127.76 annually. In Illinois, homeowners typically recoup their solar investment in about 12 years, after which it's all savings. Plus, solar locks in your per-kWh rate for over 25 years, shielding you from future rate hikes and aiding long-term budgeting.
Increased Property Value
Homeowners choose solar to boost their home's value. In Illinois, the average home appreciates by 6.2% annually. Invest in your home, not your utility bill, to keep pace with rising home values. It's important to note that the extent of the property value increase can vary depending on factors like location, the quality of the solar system, and local real estate trends.
State and Federal Incentives
The state of Illinois offers a wealth of solar incentives that can significantly lighten your financial load when you decide to embrace solar power for your home.
Illinois Renewable Energy Credits (SRECs)
The Prairie State encourages solar energy adoption through the SRECs program. When your solar system generates clean energy, you earn credits you can sell back to utilities, giving you an added source of income.
Federal Solar Investment Tax Credit (ITC)
Thanks to federal incentives, you can receive a substantial tax credit on your solar installation costs. The ITC allows you to recoup up to 26% of your investment, making solar more affordable than ever.
Net Metering
Illinois offers net metering, allowing you to receive credits for excess energy your solar panels produce and feed back into the grid. These credits can offset future electricity bills, ensuring you maximize your solar investment.
Property Tax Exemption
You won't have to worry about increased property taxes after installing solar panels. Illinois law exempts your solar energy system from property tax assessments, helping you maintain a favorable financial outlook.
Local Incentives
Many local utilities also offer incentives and rebates to promote solar energy adoption. These can further reduce your upfront costs and accelerate your path to energy independence.
So, whether you're on the verge of making the solar switch or just exploring the possibilities, Illinois presents a compelling case for embracing solar energy.
It's not just about reducing your carbon footprint; it's about enhancing your financial well-being.
2. Environmental Benefits
Reduced Greenhouse Gas Emissions
Solar panels generate electricity by harnessing the power of the sun, which produces no direct greenhouse gas emissions. This renewable energy source reduces the demand for electricity generated from fossil fuels like coal, natural gas, and oil. By decreasing the reliance on these carbon-intensive energy sources, solar panels help mitigate climate change by reducing the release of greenhouse gases, such as carbon dioxide and methane, into the atmosphere.
Clean Energy Production
Solar power is a clean and sustainable source of energy. Unlike fossil fuels, solar energy production doesn't create harmful air pollutants or particulate matter that can contribute to respiratory illnesses and smog formation. This clean energy production improves air quality and reduces the health risks associated with air pollution.
Conservation of Natural Resources
Solar energy reduces the need for the extraction and consumption of finite natural resources, such as coal, natural gas, and uranium. By harnessing the abundant energy from the sun, solar panels promote resource conservation and help protect fragile ecosystems from the environmental degradation associated with resource extraction.
Long-Term Sustainability
Solar panels have a long operational life, typically exceeding 25 years. This longevity means that a single solar installation can provide clean, sustainable energy for decades, contributing to long-term environmental sustainability and reducing the need for frequent replacement or maintenance.
Decreased Water Usage
Traditional electricity generation methods, especially fossil fuel power plants, require significant amounts of water for cooling and other processes. Solar panels don't rely on water for their operation, helping to conserve this precious resource.
Transitioning to solar power is a proactive step toward a cleaner, healthier, and more sustainable planet.
3. Energy Independence
Energy Cost Predictability
Solar panels offer a predictable and consistent source of energy, allowing you to anticipate your energy costs accurately. You're less vulnerable to fluctuating utility rates and can budget for your long-term energy needs more effectively.
Reduced Reliance on the Grid
Solar panels allow you to consume the electricity you generate during the day and store excess energy in batteries for use during the night or on cloudy days. This minimizes your reliance on the traditional power grid, making your home less susceptible to grid disruptions, outages, or fluctuations in energy supply.
Local Energy Generation
Solar panels harness the abundant sunlight available in Illinois to generate electricity directly on your property. This means you can produce a significant portion, if not all, of the energy your home needs right at home. By generating electricity locally, you reduce your dependence on external sources and centralized power plants, enhancing your energy self-reliance.
Resilience and Preparedness
Solar panels enhance your home's resilience during emergencies, such as severe weather events or natural disasters. With a solar-plus-storage system, you have a reliable source of power to keep essential appliances running, ensuring you're better prepared for unforeseen circumstances.
In summary, installing solar panels in Illinois can lead to energy independence by enabling you to generate, store, and manage your electricity needs.
This self-sufficiency not only reduces your reliance on external energy sources but also enhances your ability to withstand disruptions, save on energy costs, and contribute to a cleaner, more sustainable energy future for your home and community.
4. Supporting Illinois' Renewable Energy Goals
State Mandate
In December 2016, the Future Energy Jobs Act (FEJA) became law. It enhances the Renewable Portfolio Standard, fostering clean energy growth and inclusivity. Over $750 million will fund low-income initiatives, like the Illinois Solar for All Program, promoting solar development and job training in underserved areas. These programs offer savings, economic growth, and job opportunities for marginalized groups, including ex-offenders and former foster children.
Boost Local Economy
Going solar supports your local economy. The American solar industry, employing nearly 250,000 people, has seen a 167% growth in the past decade, with a 44% increase in employment from 2014 to 2019, outpacing the overall job growth rate by five times.
Positive Environmental Impact, Locally
Solar panels provide a clean and sustainable energy solution, lowering greenhouse gas emissions, air pollution, and dependence on fossil fuels. As per the Solar Energy Industries Association (SEIA), an average residential solar system can neutralize approximately 100,000 pounds of carbon dioxide throughout its life. Embracing solar energy allows communities to play their part in promoting a sustainable future and addressing the challenges of climate change.
Solar panels go beyond environmental benefits. They energize local economies, spawn job prospects, cut energy expenses, boost property worth, and champion sustainability. As communities increasingly adopt solar power, this local-level economic transformation will keep driving growth and advancement.
In conclusion, embracing solar energy leads to a brighter, more sustainable future for Illinois residents.
By harnessing the power of the sun, homeowners can not only reduce their environmental impact but also enhance their quality of life, while contributing to the state's overall economic well-being and progress.