Modern Mill Solar - Learn More About SolarModern Mill Solar - Learn More About Solarhttps://www.modernmillsolar.com/blogsTue, 07 Dec 2021 18:42:09 -0800http://zoho.com/sites/<![CDATA[Illinois Homeowners SRECs Program]]>https://www.modernmillsolar.com/blogs/post/illinois-homeowners-srecs-programThere truly has never been a better time to go solar. From the federal tax incentives letting you write off 26% of your systems production value on yo ]]>

There truly has never been a better time to go solar. From the federal tax incentives letting you write off 26% of your systems production value on your Federal Income Taxes, to solar panels themselves being at their lowest price in history. Not even to mention all the tax incentives and rebates offered at the state level!  


One up and coming benefit of solar panels is the new Illinois Homeowners SRECs program! Coming later this month, this program is, in simple terms, a monumental solar rebate program. However, it is a fairly complex program, as well as being a newer concept in general, so here at Modern Mill Solar, we wanted to break it down for you and answer some questions you may have!

What are SRECs?

SREC is an acronym that stands for Solar Renewable Energy Credit. One SREC is equal to 1,000 KWh (1 MWh).

 

The idea of an SREC or an SRECs system is that if you are a residential, Solar Energy producer, when you produce energy for your home, and excess energy that goes into either your solar battery storage, or back into the grid, you are also producing SRECs along the way. From there your utility will keep track of your SREC production. 

 

Then there will be programs in place for you to "sell" your SRECs. In some places there are multiple options on how you can go about selling your credits, sometimes you can sell them as you make them, or sell them yearly or monthly. However, here in Illinois there is only one option which makes the program significantly more simple.

 

What will happen is, if you qualify for the program, you will receive an up front check, for 15 years of you solar system's SREC production. So for example : If your system was estimated to produce 10,000 KWh a year (10MWh) that is 10 SRECs per year, over 15 years that is 150 SRECs. 150 SRECs x the price of an SREC equals an upfront check for most likely over $10,000 in your pocket! 

The exact pricing and rollout of the Illinois SRECs program is still subject to change though. The pricing of each SREC is based on multiple factors such as supply and the prices of other forms of energy. However, a number that is getting tossed around a lot is $72.97 per SREC, which would make the total of your 15 year rebate around $10,945. 

Why is the SRECs program happening and why now?

In Illinois, lawmakers have agreed to have Illinois as a whole be 100% running on renewable energy by 2045. A significant portion of that agreement will be produced by residential Solar Energy producers. So because of this, some of Illinois' largest utility companies (ComEd) and some third party agencies such as the Illinois Power Agency (IPA) will buy SRECs from Solar producing homeowners, in order to offset their own energy use and production.

 

If the utility can buy and use SRECs, which is thousands of KWh of renewable energy, then it offsets their own non-renewable energy use and production, and helps move Illinois towards being completely renewable or at "Net-Zero" Carbon Emissions. 

How much can this program really save me?

If you were to enroll in a monthly solar payment plan with us, whether it be the solar lease or the solar loan, with this new SRECs program and the existing 26% Federal Tax Credit, you could save half or more on your monthly solar payments.

 

Even if you were to purchase your whole system upfront, this program will take a pretty significant chunk off of that purchase up front, depending on the size of your system of course.

What steps can I take now if I want to apply for this program?

You won't have to do much of anything! When you partner with us for your solar project we will submit the SRECs application on your behalf for all of our new customers! Once we do that if you are approved, most homeowners can expect to receive their Illinois solar incentives about 180 days after their system is installed.

 

This program is going to be huge for solar energy producers in Illinois and if solar was something you were considering, now would be the time to take the steps to making your dream of renewable, cheap energy a reality.

 

However, as more people sign up for this program, more solar systems get installed, and more SRECs get sold. From there it works just like supply and demand in any other industry. Prices will fluctuate but for the most part they will go down slowly over time. So with that said, don't wait! Reach out now!

 

To schedule your free, no obligation, solar quote, reach out to us either online with the contact form on our homepage, or over the phone at 800-878-6316. An energy specialist would be happy to answer any final questions you may have at your appointment!

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]]>Fri, 03 Dec 2021 12:24:19 -0500<![CDATA[Why Choose Solar Power for your Home]]>https://www.modernmillsolar.com/blogs/post/why-choose-solar-power-for-your-homeSolar panels are popping up all over the country—and with good reason. Solar energy systems provide a source of endless energy, converting the sun’s r ]]>

The Pros and Cons of Harnessing Solar Power; 
​The Sustainable, Renewable Energy Choice

Solar panels are popping up all over the country—and with good reason. Solar energy systems provide a source of endless energy, converting the sun’s rays into electricity for your home. Thanks to advances in technology, homeowners have a wide variety of choices for price per watt, efficiency ratings, and design. And solar options are at their lowest cost in history.


Benefits today. Benefits tomorrow. 
It’s no wonder more American homeowners are choosing solar.


Solar energy systems are an energy—and cost—efficient investment that yields recurring benefits, from tax credits and lower utility bills to increased home values. Americans are making the smart move away from fossil-fuel grids and choosing solar.


If you are deciding if solar power is right for your home, consider these six reasons why you should.

1) Proven, reliable tech that works in various climates

Solar power’s history goes back to scientific experiments in the late 1800s. The technology has come a long way since then. Over the centuries, solar tech quality and design have been improved to become the reliable energy source it is today. Currently, there are 58.3 gigawatts of total solar capacity installed nationwide—and this number is growing. More people are choosing solar, debunking the myth that it’s a trend or fad. Americans’ adoption of clean energy is predicted to continue long into the future.

Another myth that plagues the solar energy industry is that solar panels aren’t effective in all climates. Some people think solar won’t work in colder or snowy weather. This is not true. During periods of higher temps, excess heat can reduce output voltage. Solar panel systems actually work more efficiently in colder temperatures.

And yes, direct sun exposure will help your solar system generate more electricity, but modern panels are designed to generate energy even in low-light situations. Proper installation by a professional ensures correct placement, tilt, and number of panels to accommodate whatever weather patterns are prevalent in your climate region.

2) Reduce your energy and utility bills with solar power

Solar panels allow you to reduce your energy bills—and perhaps eliminate them entirely. Your savings will depend on how much energy your system produces and how much you consume, but many households have dramatically reduced the cost of utility bills in their budget thanks to solar power. Further, because electricity rates will continue to rise, your savings will continue to grow every year over the 25+ year lifespan of your solar panel system.

The U.S. Department of Energy found solar energy systems
added an average of $15,000 in value to a home.

Installing solar panels in your home has a high return on investment over the long term. When can you expect to “break even” on the installation costs compared to what you pay to your local utility company? The break-even point varies from region to region (and even home to home), but the average homeowner can expect to break even on their system cost around 7.5 years.

3) Special tax benefits save you even more money

If you opt to go solar, do you get any tax breaks? Yes! The federal government offers tax credits, and, depending on where you live, you may qualify for local tax credits, as well.

The major federal tax credit for residential solar panels is the investment tax credit, or ITC. You may have heard of it referred to as the Solar Tax Credit. The ITC offers a tax credit equal to 30% of the total cost of your solar energy system, as long as you buy the system. Most people are eligible to claim the ITC. This federal tax credit provides a sizable incentive to choose solar, but it is currently scheduled to phase out by 2022. If you’re thinking about investing in solar, be mindful of applicable tax credit timelines.

Your state may also offer special tax credits for installing a solar energy system, too. Indiana, for example, offers a sales tax exemption for solar electrical generating equipment as well as a property tax exemption. Check with your state and municipality for additional rebate programs and utility incentives for solar systems.

4) Solar energy systems are more affordable than ever

As solar technology and production have improved, the costs of a total home solar system have declined. Between 2016 and 2017, the cost of solar systems dropped 9%. Purchasing and installing solar panel systems is at the lowest price point in 30 years. Solar energy is now more affordable than ever for homeowners.

When you choose solar, your residential solar system cost includes the panels, wiring, racking, inverter, and monitor. Installation is usually a separate cost, including labor and materials calculated based on your system’s size.

The easiest way to calculate the cost of solar electricity across different system sizes is in dollars per watt ($/W). The $/W calculation indicates how many dollars solar will cost per watt of available electricity production. You simply calculate the price of your panel divided by the wattage of the panel. In 2018, the average installation cost for homeowners was between $2.87 and $3.85 per watt.

The total cost of an average-sized residential solar system is usually between $15,000 to $29,000 but we have financing options to offset the upfront costs of purchasing and installing a solar energy system. Modern Mill Solar offers systems for every budget and energy need. We have solar specific loans that are fixed interest rate term loans. The goal is for your loan payment for solar to be less than what you are currently paying to your utility company per month which will ultimately help you save money each month.

Keep in mind that solar energy systems are an investment. The upfront costs are offset by tax credits and energy savings that build year over year. It’s a home upgrade that pays you back in several ways—all while providing sustainable energy.

5) Trust licensed professionals for easy installation

Once you’ve selected and purchased your solar energy system, the next step is installation. Site visits are required throughout the selection and installation process, but the actual installation process usually takes only a few days of work.

Relying on professional, licensed installers ensures the installation of all solar equipment is done correctly, safely, and up to code. The installation crew will obtain the proper permits to complete work. They will make sure your solar energy system is oriented and tilted in such a way to maximize the daily and seasonal solar energy received and produced by your system. They will also answer any questions you have regarding using your solar monitor and other equipment.

6) Solar energy systems can increase your home’s value

Investing in a solar energy system for your home offers immediate and long-term benefits. Not only will you see short-term savings via tax credits and utility bill reduction, you may also increase the value of your home.

Solar panels are viewed as a residential upgrade similar to a renovated kitchen or finished basement. Homebuyers are willing to pay a premium for a house with an average-sized solar system. The U.S. Department of Energy found solar energy systems added an average of $15,000 in value to a home. Having a solar system may also decrease the time it takes to sell your home when you list it on the market.

Benefits today. Benefits tomorrow. It’s no wonder more American homeowners are choosing solar.

Ready to get started? Browse the U.S. Department of Energy’s planning guide or, better yet, call us. We will answer all of your questions and help guide you through the solar energy system buying and installation process.

If you're ready to harness the benefits of solar power immediately, fill out this form and a solar technician will get back with you for a free solar installation estimate.

]]>Tue, 29 Dec 2020 12:02:13 -0500<![CDATA[What is the Cost of Solar Panels]]>https://www.modernmillsolar.com/blogs/post/what-is-the-cost-of-solar-panelsSolar energy systems provide immense benefits. They help home owners and businesses conserve energy and save money. They increase property value. And ]]>

Solar energy systems provide immense benefits. They help home owners and businesses conserve energy and save money. They increase property value. And because of advances in technology and manufacturing, solar panel systems are more affordable than ever before.


Your solar panels can produce electricity for 25+ years with minimal maintenance.


But many people still wonder about the return on their investment of solar energy. How much does a solar system cost? When can I expect my solar panels to start “paying me back?” Do the pros outweigh the cons?

Let’s clear up a few misconceptions about solar before we dive into cost analysis.


1) Solar energy system installation is too expensive.

Many people mistakenly believe solar power installation costs are too high. The panels themselves are budget-friendly. It’s the labor and materials to correctly set up the panels that cause people to balk.

A number of factors go into the initial installation costs—even if you go the DIY route. Every home and business solar system installation project is different. The key to reducing these costs is to research ahead of time.

Find out what tax credits and incentives apply to your situation and geography. Work with experts to make the most of your roof space. Get a feel for how much energy you generally consume (this will tell you how much energy you need and prevent you from buying extra power you don’t need). And this one-time installation cost could save you a lot of money—both in the short- and long-term.

2) The payback period is too long.

In solar energy, there’s a “break-even point” where your investment has paid for itself in cost savings created by the solar power generated from the system. The time between installation and break-even is called the payback period. A common myth is that it takes 25 years before you exit the payback period and really see major return on your solar investment. This simply is not true.

If you choose to sell your home or business at any point after solar energy installation,
 you’ll enjoy higher property values, estimated as high as $15,000-20,000 increase.

Depending on the size of your solar energy system and how you set up the initial investment (buying outright versus a loan), you could see ROI much sooner. You see an immediate return on your electricity, utility, and energy bills. If you take advantage of generous federal and, often, local tax credits the money you invest in solar energy could be paid back to you in as few as six years. Further, if you choose to sell your home or business at any point after solar energy installation, you’ll enjoy the additional reward of higher property values. Current estimates point to a $15,000-20,000 increase.

3) You need to live in a warm, sunny climate to have solar.

You can use solar energy systems in any climate. Cold, warm, sunny, cloudy, snowy—solar works in them all because every climate region has periods of sun. Solar panels operate by harnessing the sun’s energy—not its temperature. In fact, solar panels are more efficient and work better in colder climates because excessive heat can strain the system.

What about snow? Expert solar installers take weather into account when installing your solar panel system. They augment the tilt and placement of the panels to work in all of the elements. This includes installing them at an angle that helps snow slide off. Snow cover on the ground and trees may also increase the amount of light reflected in the environment. This means more light absorbed by your solar panels, potentially making them more effective in generating energy.

4) Relying on fossil-fuel energy is more cost-effective.

Prices for conventional fuel sources are projected to increase over time. The world’s consumption of fossil fuels is predicted to continue an upward trend, which will drive costs even higher than they are today. In fact, the cost of electricity produced by solar is now cheaper than coal. The sun is a free, renewable energy source you can harness via solar energy systems and the efforts to harness that energy has very little impact on the environment, unlike fossil fuels. Once you compare the long-term escalation of fossil fuel prices against the long-term gains of solar energy, the benefit of solar is clear.

Now that we’ve dispelled some of the common myths around solar energy systems, here is a breakdown of ROI cost analysis.




Calculating Your ROI for a Solar Panel System

Think of your solar energy system like a financial asset. It is capable of generating annual returns on your initial investment from 12-15%, maybe even more. “It’s all about how much your cost is, how much you’re paying versus the grid,” Tom Kimbis, executive vice president of the Solar Energy Industries Association, told Time Magazine].

The total cost (equipment and installation) of the average residential solar panel system in 2018 ranged from $11,380 to $14,990, according to EnergySage. This is after applicable tax credits are taken into account—and there are several to help offset your costs. You’ll also want to take into account the cost-per-watt of your solar power system. “The average price per watt for solar panels ranges from $2.71 to $3.57 and the average U.S household system size is 6 kilowatts (6,000 watts), therefore the average gross solar panel cost is $18,840. That’s six and a half percent lower than it was a year ago, and solar panel system costs are continuing to fall.”

To calculate your individual rate of return, simply divide the financial benefits you receive each year by your initial investment. Bear in mind these returns add up year over year, compounding your ROI.

Your solar panels will produce electricity for 25+ years with minimal maintenance. Over that time, you will generate returns in the form of solar savings: The more you use of your renewable solar energy means less use of electricity or other fossil fuels. So be sure to calculate utility bill savings into the mix.

As previously mentioned, in addition to savings on utility bills, your solar panels can earn you generous tax breaks, both at the federal level and state/municipality levels. The federal government offers a solar tax credit called the investment tax credit, or ITC. The ITC allows you to deduct 30% of the cost of installing a solar energy system from your federal tax return. The ITC applies to both residential and commercial systems, and there is no cap on its value. Be sure to check if your state or region offers special credits or rebates for solar, as well. Every dollar counts in calculating ROI.

How much can you save with solar? EnergySage has a calculator to quickly estimate your potential savings with a solar power system. All you need is your address and average electric bill cost.


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]]>Tue, 29 Dec 2020 11:18:00 -0500<![CDATA[How do Solar Panels Work?]]>https://www.modernmillsolar.com/blogs/post/how-do-solar-panels-workUnderstanding How a Panel Works can help you decide what type of Productions and Quality it is you are looking for. The cost of the system is determin ]]>
Understanding How a Panel Works can help you decide what type of Productions and Quality it is you are looking for. The cost of the system is determined by the size of the system. You may be able to get away with lower priced panels if you have the rood or ground space for a higher quantity. You may want Solar but have a small roof, or no land for a ground mount so reaching for the higher priced panels that produce more may be a better option for you, as you wont need as high of a quantity.
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]]>Tue, 01 Sep 2020 09:45:00 -0500<![CDATA[Roofing]]>https://www.modernmillsolar.com/blogs/post/roofingGetting a new roof doesn't have to be something we dread. It doesn't have to be treated as an expense that we have to check off every 20+ years. What ]]>
Getting a new roof doesn't have to be something we dread. It doesn't have to be treated as an expense that we have to check off every 20+ years. What if we could turn this expense into an income opportunity?


Modern Mill's roofing solutions are part of our whole home experience. We can absolutely sell and install a high quality and sustainable roofing solution. But, we can also do something even better.

New Roof and Solar Panel Installation Bundle


We can offer you a roof replacement that instantly adds value to your home. A roofing solution that locks your utility bills into a fixed rate for the next 25 years so you don't have to worry about those ever-increasing utility rates.


We can offer you state and federal incentives that allow for the most affordable solar panel installation that we have ever offered (and we've been doing this for a long time).


Let us not just "sell" you a new roof. Let us harness incentives, benefits, and the renewable power of the sun, to add value to your home and get you locked in to a fixed rate that you can feel comfortable with.


Let us turn your roofing headache into an investment that yields tangible results.
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