How Much Can Solar Save in Richmond?
Real numbers based on current ComEd rates and Illinois incentives.
$164
Current Bill/mo
$152
Est. Lease + Battery
5.4 yrs
Payback Period
$56,724
25-Year Savings
What You're Paying Now
Without solar, here's what ComEd electricity will cost you over time at 6% annual rate increases.
Monthly Bill
$164
Annual Cost
$1,968
25-Year Cost (No Solar)
$107,973
Your Solar Investment
7 kW System
$20,300
$10,228
After All IL Incentives
DG Rebate ($300/kW)-$2,100
Illinois Shines RECs (lump sum, ~18 mo)-$7,972
With vs Without Solar in Richmond
| Metric | Without Solar | With Solar |
|---|---|---|
| Monthly Cost | $164/mo | $123/mo (loan) |
| Monthly Cash Flow | -$0 (all to utility) | +$17/mo |
| 5-Year Cost | $10,627 | $7,380 |
| 25-Year Cost | $107,973 | $51,249 |
| Rate Control | None — utility sets rates | Fixed at $0.10/kWh (avg.) for 15 years |
| Home Value Impact | None | +$15,000–$25,000 (tax-exempt) |
Your Solar Savings Over Time
Estimated 25-Year Total Savings
$56,724
Without Solar
With Solar
Year 1Payback Year
$1,968
$1,762
Year 5
$11,094
$1,120
Year 10
$25,940
$11,104
Year 15
$45,807
$22,376
Year 20
$72,394
$35,496
Year 25
$107,973
$51,250
| Year | Without Solar | With Solar | Cumulative Savings |
|---|---|---|---|
| Year 1Payback | $1,968 | $1,762 | $206 |
| Year 2 | $4,054 | -$4,422 | $8,476 |
| Year 3 | $6,265 | -$2,606 | $8,871 |
| Year 4 | $8,609 | -$759 | $9,369 |
| Year 5 | $11,094 | $1,120 | $9,974 |
| Year 6 | $13,727 | $3,035 | $10,693 |
| Year 7 | $16,519 | $4,987 | $11,532 |
| Year 8 | $19,478 | $6,981 | $12,497 |
| Year 9 | $22,615 | $9,019 | $13,596 |
| Year 10 | $25,940 | $11,104 | $14,836 |
| Year 11 | $29,464 | $13,240 | $16,224 |
| Year 12 | $33,200 | $15,431 | $17,769 |
| Year 13 | $37,160 | $17,681 | $19,479 |
| Year 14 | $41,358 | $19,995 | $21,363 |
| Year 15 | $45,807 | $22,376 | $23,431 |
| Year 16 | $50,524 | $24,831 | $25,693 |
| Year 17 | $55,523 | $27,364 | $28,159 |
| Year 18 | $60,822 | $29,982 | $30,840 |
| Year 19 | $66,440 | $32,690 | $33,749 |
| Year 20 | $72,394 | $35,496 | $36,898 |
| Year 21 | $78,706 | $38,406 | $40,300 |
| Year 22 | $85,396 | $41,428 | $43,968 |
| Year 23 | $92,488 | $44,570 | $47,918 |
| Year 24 | $100,005 | $47,841 | $52,164 |
| Year 25 | $107,973 | $51,250 | $56,724 |
Start Saving in Richmond
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