How Much Money Can Solar Panels Actually Save You in Chicago?
- Marketing Sige Solar
- Sep 9, 2025
- 3 min read
Updated: Sep 21, 2025
Rising electricity bills are a growing concern for many Chicago homeowners. Between utility rate hikes, seasonal usage spikes, and unpredictable future costs, it’s natural to ask: “Is solar worth it in Chicago?”
The answer is yes — for many households, solar can significantly cut electric bills and create long-term financial stability. Let’s break down the numbers, local incentives, and what you can expect when you go solar in Chicago.
Is Solar Worth It in Chicago?
The Average Electric Bill in Chicago
According to ComEd, the average electric bill in Chicago ranges from $90 to $120 per month, depending on household size and energy use. That equals roughly $1,200–$1,500 per year.
Source: ComEd Residential Electric Rates
However, electricity rates have risen steadily over the last decade and are expected to continue climbing. That means today’s $100 monthly bill could easily be $130–$150 within a few years.
How Much Do Solar Panels Save in Chicago?
Savings vary depending on roof size, sunlight exposure, household energy use, and system design. Still, here’s what an average Chicago homeowner might expect:
Bill reduction: Solar can lower your electric bill by 60–80%.
Monthly savings: If your bill is $100 today, solar may reduce it to $20–$40.
Yearly savings: That’s $700–$1,000 in savings per year.
Long-term savings: Over 25 years, this adds up to $20,000–$35,000, not including future utility price increases.
Estimates based on data from *EnergySage and SolarReviews.
Incentives That Boost Your Savings
One of the biggest reasons solar is so attractive in Illinois is the combination of federal and state incentives:
Federal Solar Tax Credit (30%)
Homeowners can deduct 30% of the total system cost from federal taxes.
Example: A $20,000 solar system may qualify for a $6,000 tax credit.
Illinois Shines Program (SRECs)
Illinois pays homeowners for the clean energy their panels produce in the form of Solar Renewable Energy Credits (SRECs).
These payments can total thousands of dollars over the system’s lifetime.
Net Metering with ComEd
When your system produces more energy than you use, the excess goes back to the grid.
You get credits on your bill, reducing costs even further.
Source: *ComEd Net Metering Program.
Source: U.S. Department of Energy – Clean Energy Tax Credits.
Source: *Illinois Shines Official Program
Is Solar Worth It in Chicago?
Here’s why the answer is “yes” for most homeowners:
✅ Rising utility rates: Protect yourself against unpredictable energy costs.
✅ Incentives: The combination of federal and Illinois programs makes solar more affordable.
✅ Home value boost: Studies show solar increases property value by 4–6%.
✅ Energy independence: Produce your own clean power and rely less on the grid.
If your monthly electric bill is over $90, solar is usually worth considering. Payback periods in Chicago can be as short as 6–8 years, after which your electricity is nearly free. The results vary based on the size of the roof, sunlight, and other factors.
Real-Life Example
Imagine a family in Chicago paying $120/month for electricity:
Annual cost: $1,440
25-year cost (with rate increases): $45,000+
With solar: Bill reduced to ~$30/month → $900/year saved
Total 25-year savings: $25,000–$35,000, depending on incentives and rate hikes.
Estimates that do not determine the savings of each house may vary.
Ready to See Your Savings?
📞 Book a free consultation today with Sige Solar and receive a customized savings report for your home.🌟 Already a customer? Don’t forget to join our referral program — earn rewards for every friend or family member who goes solar with us!
Disclaimer
Savings and incentives vary based on system size, household energy consumption, roof conditions, and future utility rates. This blog provides general estimates and is for informational purposes only. For an accurate analysis, request a personalized consultation with a licensed solar provider.