Solar Energy Incentives Illinois

There are two primary sources of funding for solar systems state and federal governments.

Solar energy incentives illinois.

Illinois solar for all program to support the development of solar energy in traditionally underserved populations. Learn more about why solar panels are such a great investment in illinois. Adjustable block program to support the development of photovoltaic distributed generation and community solar projects. Not only does the state of illinois want to help you go solar the federal government does too.

For your system the value is 7 1 cents kwh produced which is paid in year one. The investment tax credit. It enables the sale of recs produced by solarsystems to illinois utilities. Illinois solar incentives illinois is becoming known for its great solar incentives and programs which are considered some of the best in the country.

Illinois solar power incentives tax breaks and rebates there are plenty of incentives for solar power in illinois making a residential pv system an attractive investment. Illinois solar incentives illinois has a law requiring its utilities to source 25 of their energy from renewable sources by 2025. The funds are typically allocated on a first come first serve basis until the budget has been spent. Solar renewable energy credit srec residential.

Learn more about solar carve outs. Rec s are a state incentive whose value is equal to the solar energy you produce over 15 years times the price set by the illinois power agency for rec s. In addition to the policies mentioned above you can reduce the cost of your solar energy system by 26 percent with the federal investment tax credit itc. Of the released funds half are set aside for pv systems less than 25 kilowatts in nameplate capacity such as residential rooftop systems.

Please note this is an incentive which is subject to tax. Illinois mandates that 6 of its rps 1 5 of total electricity come from solar power. That s a decent but not spectacular number but it means that the big utilities have an extra incentive to purchase generation from smart homeowners like you who produce their own power from solar panels. Another great illinois incentive.

The state of illinois offers a 25 rebate to help illinois residents and business owners pay the costs of installing solar energy products in their homes. Payments vary depending on the size of the system and where it is located. To achieve this goal illinois s largest utilities must make incentive payments to homeowners who invest in solar. The law requires a significant portion of that energy come from residential solar.

Solar investment tax credit a federal program to support the development of pv systems. The illinois adjustable block program is an incentive program that supports the development of new solar systems in illinois through the purchase of renewable energy credits or recs. Learn about solar incentives in il.