Illinois solar power incentives tax breaks and rebates.
Solar power rebates illinois.
There are plenty of incentives for solar power in illinois making a residential pv system an attractive investment.
Heating ventilating and air conditioning hvac equipment central air conditioners.
Private utility companies will give you back 25 of the project cost and then you will be able to apply the 30 federal tax credit on the solar pv system price after the.
If you re a comed customer and install solar on your business you re eligible for 250 per kilowatt kw of installed solar power.
Solar renewable energy credit srec residential.
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.
With new and emerging technologies more people are searching for ways to utilize renewable resources to power their homes or businesses help the environment and even save money.
The rebate amounted to 1 500 kw back on solar systems up to 25 of project costs or 10 000 whichever was less.
Illinois solar rebates and incentives.
Up until this year illinois had offered a rebate for all customers of investor owned utilities comed and ameren.
To receive the rebate your solar panel system cannot be larger than 2 000 kw in capacity.
2427 which released 30 million in the renewable energy resources fund to the illinois power agency for the purchase of photovoltaic pv power through a supplemental procurement process.
Illinois rebates and incentives summary.
Aside from the power output of the solar equipment you choose to install the amount of energy you generate with solar panels in illinois is directly related to the amount of sunlight that hits your panels.
Illinois receives below average sunshine meaning you ll need more solar panels to produce the same amount of electricity than are needed in other sunnier states.
The most significant incentive to install solar panels for homes and businesses is the federal solar tax credit at the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.
In june 2014 illinois enacted h b.
Of the released funds.
The tax break reduces.
Illinois solar power rebates none grade.
An average sized residential solar system about 400 square feet of solar panels costs 18 000 according to the solar energy industries association an industry group.
For your system the value is 7 1 cents kwh produced which is paid in year one.
