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Many homeowners in Illinois are considering solar energy as a choice for lowering their energy costs and increasing sustainability. One important aspect of making this decision is understanding net metering, a program that allows you to receive credits for excess energy generated by your solar panels.
However, significant changes are on the horizon for net metering in Illinois! We’ll explain why now is the best time to.
What Is Net Metering?
Net metering is a billing mechanism that credits solar energy system owners for the electricity they add to the grid. When your solar panels generate more energy than your home consumes, the surplus electricity is sent back to the grid, and you receive credits on your utility bill. These credits can offset your electricity costs when your solar panels aren’t producing enough energy, such as at night or on cloudy days.
In Illinois, net metering has been a significant incentive for homeowners to invest in solar energy. The current structure allows for a one-to-one credit ratio, meaning you get credited at the same rate you pay for electricity. This arrangement makes solar more attractive because homeowners receive a quicker return on their investment.
Changes Coming to Net Metering in Illinois
According to the Illinois Shines program, the value of net metering credits will decrease in 2025 for new solar customers. Specifically, the current favorable rates will be reduced, meaning that homeowners who delay their solar installation until after the changes are implemented may miss out on the best savings.
Moreover, the Citizens Utility Board notes that this reduction in net metering credits will affect the overall financial feasibility of solar installations for new customers. Therefore, if you’re considering solar, it’s crucial to act quickly to secure the existing benefits.
Why You Should Act Now
We’re committed to helping our customers navigate these changes. We encourage you to consider completing your solar installation by the end of the year to take full advantage of current net metering rates. If you act now, you can maximize potential savings and contribute to a more sustainable energy future.
In addition to the financial benefits, installing solar panels before the end of the year allows you to start saving on your energy bills sooner. With the holidays approaching, there’s no better time to invest in your home’s energy efficiency and sustainability.
How We Can Help
At Edelman, we offer comprehensive solar energy solutions tailored to your needs. Our team of experienced professionals will guide you through the installation process and ensure that you understand how net metering works. We’ll help you monitor your energy production and consumption, providing you with real-time insights to maximize your savings.
If you’re ready to take the plunge into solar energy, now is the time. Don’t let the upcoming changes to Illinois net metering deter you. Contact us today to learn more about our solar solutions and get started on your path to energy independence before the year ends!