ILLINOIS INCENTIVES

Renewable Energy Tax Credits, Rebates, & Net Metering!

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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 will find all the top incentives for going solar in the Land of Lincoln including net metering, solar rebates, and property tax breaks. 

SRECs

Net Metering

Tax Exemptions

Federal Tax Credit

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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.

INCENTIVES FOR GOING SOLAR IN ILLINOIS

MOXIE has locations in DixonPeoria, and Chicago!

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 the Land of Lincoln does not currently offer a tax credit for installing solar, there are still a couple of tax incentives that are worth taking advantage of if you install solar in Illinois.

Solar Renewable Energy Credits (SRECs)

Illinois’ SREC Program is perhaps the most appealing reason to install solar in Illinois. It actually 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 then sell for monetary gain. 

Solar Energy Property Tax Incentive

Illinois’ Special Assessment for Solar Energy Systems ensures that any new solar energy system installed in Illinois is exempt from being part of a property tax assessment. Certainly, we know installing solar increases property value and this law allows you to realize all the upside of solar energy, without ever paying for it in property tax increases.

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. You can then use those credits on days when your system produces less than what you need (can happen in wintertime some).

Federal Solar Tax Credit (ITC)

 

On top of all the Illinois-specific solar incentives, there is also a Federal Solar Tax Credit that allows you to deduct 26% of the cost of your solar energy system from your federal taxes. 2020 is the last year the Federal Solar Tax Credit will be at 26 percent! After. that it goes down significantly each year. Take advantage now!

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!

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