Having an active summon will decrease your magicka regeneration by 0.40 (approximately a 40-50% loss depending on race). This effect does not stack if you have multiple summons active. (Note that this affects your BASE magicka regen and is multiplicative, therefore you will not as easily bypass it with +magicka regen gear and it will also effect the amount your magicka potions restore.)
Other than completing the Conjuration Ritual Quest, you can also obtain a Sigil Stone by purchasing from the Dremora Merchant (summoned by the "Black Market" power granted by the Black Book: Untold legends) or by crafting it at a tanning rack using all of the letters from the six named Slighted (which are located near the end of several questlines).
There are three summon types, each with their own advantages compared to the others:
Spirit Summons last longer, but cost stamina in addition to magicka.
Daedra summons are more durable.
Undead summons deal more damage.Â
Scamp
Weak daedra summon, attacks enemies by casting firesparks or by using a weak melee attack.
Enemy variants may cast mage armor.
Banekin
Daedra summon that deals fire damage and attacks with quick melee swipes.
Fire Wyrm
Daedra summon that deals fire damage via bites.
Has a weak flame cloak effect.
Watcher
Daedra spellcaster summon.
Attacks close enemies with icewind, and far away enemies with ice spike.
Occasionally casts a lightning bolt.
Corrupted Shade
Undead spellcaster summon.
Attacks enemies with a sword or casts a summon swarm spell.
Can summon another, weaker skeleton.
Vigilant
Strong daedra spellcaster summon.
Randomly casts a flame or lightning cloak at the start of battle.
Can cast firebolts or channel a high-damaging lightning vortex.