Solar Energy Incentives Illinois

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 rebate.

Solar energy incentives illinois.

The investment tax credit. In june 2014 illinois enacted h b. Adjustable block program to support the development of photovoltaic distributed generation and community solar projects. It enables the sale of recs produced by solarsystems to illinois utilities.

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. The funds are typically allocated on a first come first serve basis until the budget has been spent. Illinois solar incentives illinois has a law requiring its utilities to source 25 of their energy from renewable sources by 2025. Illinois mandates that 6 of its rps 1 5 of total electricity come from solar power.

To achieve this goal illinois s largest utilities must make incentive payments to homeowners who invest in solar. Please note this is an incentive which is subject to tax. There are two primary sources of funding for solar systems state and federal governments. 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.

The law requires a significant portion of that energy come from residential solar. 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 for all program to support the development of solar energy in traditionally underserved populations. Illinois solar incentives illinois is becoming known for its great solar incentives and programs which are considered some of the best in the country.

Not only does the state of illinois want to help you go solar the federal government does too. Solar renewable energy credit srec residential. Payments vary depending on the size of the system and where it is located. Solar investment tax credit a federal program to support the development of pv systems.

For your system the value is 7 1 cents kwh produced which is paid in year one. 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. Of the released funds half are set aside for pv systems less than 25 kilowatts in nameplate capacity such as residential rooftop systems.

Another great illinois incentive. 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 more about why solar panels are such a great investment in illinois.