SUN PROVES GOOD BUY IN ILLINOIS TOWN

Installing a solar power system at home can be a good investment; Naperville man's roof system slashes use of gas and electricity
Gerry Smith, June 30, 2010 (Chicago Tribune)

"A few years ago, Jim Camasto thought about investing $20,000 in the stock market. But instead…spent that money on a safer, "greener" investment…a solar thermal and solar electricity system on his roof, which helps heat and power his home.

"His gas use has dropped more than 50 percent, and his electricity use has dropped about 70 percent. He sells extra power back to the electricity grid and sells renewable energy credits, which investors buy and trade to support renewable energy projects."

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"His return on his investment is about 3 or 4 percent a year…Although the price of solar panels is falling, the upfront costs of installing a solar power system can still be daunting. However, there are incentives designed to help finance renewable-energy projects.

"Illinois offers 30 percent rebates on the total cost of installing solar or wind systems to homeowners and businesses, and 50 percent rebates for governmental and nonprofits…Also, there are federal tax credits for up to 30 percent of costs available to homeowners and businesses that buy solar or wind energy systems. And there are grants available to state and local governments and nonprofits…"

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"Mark Burger, president of the Illinois Solar Energy Association, said installing solar power is like making a major home improvement, with the cost being roughly equal to adding a new bathroom or remodeling a kitchen.

"It's a buyer's market, Burger said, and a solar-powered house that promises reduced utility bills for years can be a major selling point…"