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Going solar: Your guide to the basics
Submitted by Medill News Service on Thu, 08/16/2007 - 12:50pm.
By Elisabeth Kwak-Hefferan
Medill Reports-Chicago
The future of solar power may be getting sunnier. Homeowners who install solar energy systems will be eligible for more tax relief from the federal government if a bill passed Saturday by the U.S. House becomes law. That's an added bonus on top of cheaper electric bills and the satisfaction that comes with slashing emissions.
Interested in plugging into solar energy? Here's how to get started.
What kinds of solar panels are out there?
You have two options: photovoltaic panels and solar thermal panels. Photovoltaic (PV) panels convert the sun's energy to electricity for your home. Solar thermal panels collect that energy and use it to heat your water and partially heat your home.
How much do the panels cost?
That depends on the size and type of the system you want to install. Roughly, the average homeowner can expect to pay $15,000-$20,000 (before any government rebates or credits) for either type of system, says Ted Lowe, secretary of the Illinois Solar Energy Association.
The Department of Energy's Energy Efficiency and Renewable Energy Web site has a handy list of tools to help you figure costs out for your home: http://www1.eere.energy.gov/solar/decision_tools.html
How long will it take to pay off the initial investment in energy savings?
Again, this depends on the kind of system you have, how much electricity you use and conventional energy prices. "This is not a get-rich quick scheme," cautions Lowe, but adds that solar panels carry the bonus of increasing your home value. Do the math based on your utility bills but a ballpark estimate is five to 10 years.
What incentives can you get?
Illinois residents get a rebate of 30 percent of the cost of their systems up to $10,000. Check with the Illinois Department of Commerce and Economic Opportunity for specific criteria and application information.
In addition, the federal government will give you a tax credit for 30 percent of your system cost, up to $2,000. The energy bill that just passed the U.S. House would eliminate that $2,000 cap and would provide a one-time tax credit for 30 percent of the entire cost of the system and installation. .
How do solar panels fight climate change?
According to the Department of Energy, a solar system that produces 1,000 kilowatt-hours of electricity per month reduces carbon dioxide emissions generated in power production by about 1,400 pounds a month. And if you don't use all of the power your system generates, you can sell your excess back to the power company-upping the amount of clean energy available to everyone.
How long do solar panels last?
Most systems should last about 30 years.
Where can you find someone to install them?
The Department of Energy recommends having a professional contractor install your panels. The Illinois Solar Energy Association provides a list of contractors on their Web site to get you started: http://www.illinoissolar.org
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