Adding solar panels and switching rate plans can lower your Commonwealth Edison (Com Ed) electric bill
Updated: October 22, 2020Installing solar panels can help reduce your ComEd bill, thanks to Florida’s sunshine and the company’s net metering program! Combined with the 30% solar tax credit, KUA customers can see great savings when they switch to solar!
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Solar panel cost calculator
Are solar panels worth it for Commonwealth Edison (Com Ed) customers?
The answer is, absolutely. With the Illinois Shines block grant program, and Com Ed’s strong net metering policy, solar panels make a whole bunch of sense in Illinois, especially for Com Ed customers! Com Ed’s net metering ensures you get credited on your power bill for the excess solar electricity your panels produce. Your credits roll over to the next month’s bill and are reset annually.
Does Commonwealth Edison (Com Ed) offer net metering credits for exported solar power?
Yes, Commonwealth Edison (Com Ed) offers net metering credits.
Under the Commonwealth Edison (Com Ed) net metering program, solar panels will first send energy to your home. Any excess solar energy is sent to the grid and purchased in the form of a bill credit. The credit value is determined by the Tri-Party Net Metering Power Purchase Agreement. KUA customers are billed for all of the electric energy delivered to them by the company.
What incentives, tax credits, and rebates are available to ComEd customers for installing solar?
The biggest financial incentive for solar homeowners is the 30% federal solar tax credit. The tax credit equals 30% of the solar installation costs and directly reduces your federal income tax liability.
Some states and local governments offer additional solar incentives. These incentives include state tax credits, rebates, or performance-based incentives like Solar Renewable Energy Credits (SRECs). The best part is that these local incentives can be used in addition to the federal tax credit!
Here is every incentive you may be eligible for as a ComEd customer:
Table 1: Incentives
| Upfront Incentives | Value* |
|---|---|
| Residential Clean Energy Tax Credit (Federal) | -$4,882 |
|
Special Assessment for Solar Energy Systems
(State)
100% of the system costs are exempt from property taxes. |
Varies |
|
Net Metering
(State)
Investor owned utilities are required to offer customers net metering through kWh credits on their bill. |
Varies |
|
Adjustable Block Program (Illinois Shines) - Group B
(Utility)
Customers get a cash payment from an Approved Vendor for the Illinois Shines program based on the expected production of their system over 15 years, in exchange for selling all RECs during that period to the Approved Vendor. The current block price is $83.75/REC. Customers of ComEd, Rural Electric Cooperatives and Municipal Utilities located in PJM qualify. |
-$15,000 |
| TOTAL | -$19,882 |
*Based on 12.47 kW system, average installation cost $31,272
How much does installing solar panels save the average Commonwealth Edison (Com Ed) residential customer?
If you input the details for a ComEd customer with a power bill of $140 per month into the best online solar panels calculator, it tells you that you need a 12.47 kW solar system that will produce 14,627 kWh per year and that this system will return the owner a $34,235 profit after repaying the cost of the system.
The solar savings possible for you as a ComEd customer will depend on the amount of electricity you use and the cost of the solar system you buy. Savings also vary based on the direction of your roof or any shading of your roof that affects output.
Here is a monthly and lifetime solar savings estimate for the same relatively typical ComEd customer with a $140 per month electric bill prior to solar and who installs a 12.47 kW solar system.
How much do residential solar panels cost for ComEd customers?
Showing data for:
Prices based on a 10.3kW system, after 30% federal tax credit
Solar prices near you
Net profit (savings less system cost)
$33,454-$40,888
Payback period
9.6-11.8 years
Recommended size for the selected utility bill
10.3kW
Solar panel cost calculator
Detailed information about your estimate
Table 2: Estimate details
|
System Size (for 100% usage offset) 12.47 kW |
|
Annual Power Generation 14,627 kWh |
|
Pay-back time (assuming Cash purchase) 11.5 Years |
|
Internal Rate of Return (IRR) on Investment 2.3% |
|
Gross cost $31,272 |
|
Total Upfront Incentives and Rebates -$10,132 |
|
Net Cost of System after rebates and incentives $21,146 |
|
Total Cost of Utility Power Avoided over 25 years $55,381 |
Please note that the investment return figures do not include the possible increase in property value.
What are the environmental impacts of Commonwealth Edison (Com Ed) customers installing solar panels?
While most homeowners decide to install solar panels because of financial savings over time, the environmental impacts of this choice are the primary motive for others. Here is a breakdown of the environmental benefits from a Commonwealth Edison (Com Ed) customer installing a 12.47 kW solar system on their property:
A solar system generating 14,627 kWh per year will save you money AND make the world a nicer place
Saves you
$1,369
on average per year
Reduces CO2 emissions
7.24
tons per year
Equivalent to planting
51 trees
per year
Equivalent to driving
16,017 mi
less per year
CO2 emissions calculation based on the electricity generation and emissions data for your state in 2015 as published by the US Government Energy Information Administration.
What factors affect the price of solar panels for Commonwealth Edison (Com Ed) customers?
The cost of installing solar panels will vary with brands of solar panels and inverters you choose and also the installation company you choose to install them.
It is common to see really good systems, using quality brands of equipment, being sold for around $2.51 per watt or $21,146 for a standard 12.47 kW solar system after the customer claims the 30% federal solar tax credit.