ILLINOIS INCENTIVES
Renewable Energy Tax Credits, Rebates, & Net Metering!
Illinois Solar Incentives, Rebates, & Tax Credits
The state of Illinois offers a number of great incentives to residents who install solar panel systems for their home, farm, or business. These incentives are a major reason why there has already been over 275 megawatts (MW) of solar energy installed in Illinois.
Perhaps the most enticing solar incentive is the Illinois Solar Renewable Energy Credit (SREC) Program.
Below, you’ll find all the top incentives for going solar in the Illini state, including net metering, solar rebates, and property tax breaks.
SRECs
Net Metering
Tax Exemptions
Federal Tax Credit
Let our experts do the work for you
In addition to the design and installation of solar energy systems, there is a great deal of paperwork involved in getting your system ready for start-up. Our Client Services team manages this process so that you can sit back and relax.
Illinois Rebates & Energy Credits
Illinois is committed to the switch to renewable energy production. In fact, the Illinois renewable portfolio standard (RPS) outlines the plan for reaching 25% renewable energy production by 2025. To help the people of Illinois make this important transition, the state offers some aggressive incentives that all make the cost of solar in Illinois more affordable.
More Money-Saving Incentives
Although Illinois does not currently offer a tax credit for installing solar, there are still a couple of tax incentives that are worth taking advantage of when you install solar in Illinois.
Solar Renewable Energy Credits (SRECs)
Illinois’ SREC Program is one of the most appealing reasons to install solar in Illinois. It provides system owners with the ability to earn money for the extra energy their panels produce. Every megawatt hour (MWh) of renewable electricity your system sends to the main utility grid is converted into a credit that you can sell for monetary gain.
Solar Energy Property Tax Incentive
Illinois Net Metering
Under the Illinois net metering policy, utility companies in Illinois will credit you with any excess energy your system produces. This policy can help you “zero-out” your average annual energy costs. Net metering allows you to earn credits on your electric bill on days when your system produces more energy than you use. Use those credits on days when your system produces less than what you need (can happen in wintertime some).
Federal Solar Tax Credit (ITC)
Commercial Rebates for ComEd Customers
If you’re a commercial customer of ComEd Utility, you could be eligible for commercial and industrial rebates that will make the cost of installing solar much cheaper right off the bat. Commercial solar panel systems up to 2,000 kilowatt (kW) total capacity are eligible for a $250 rebate per each kW.
That’s a whopping $25,000 rebate for a 100 kW system!