Illinois Solar Panel Incentives

Turn solar power into cash.

Illinois solar panel incentives. Illinois solar incentives illinois has a law requiring its utilities to source 25 of their energy from renewable sources by 2025. Illinois average cost of a solar panel installation ranges from 13 132 to 17 768. 8am to 5pm pst. The illinois adjustable block program is an incentive program that supports the development of new solar systems in illinois through the.

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. Solar renewable energy credit srec residential. Top solar programs in illinois. 6am to 6pm and sat.

Illinois renewable portfolio standard rps means the state is committed to producing 25 percent of its electricity from renewable resources by 2025. 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. Subscribe to solar output from a generator owner and use that offset the usage on your energy bill. Subscription to solar output from solar generator owner.

In 2014 illinois installed 6 megawatts of solar capacity which ranked it 27 th for growth that year. Illinois adjustable block program. And the state is more or less on pace to hold its position. Please note this is an incentive which is subject to tax.

This term tells us as at what time you will recover your. The adjustable block program. 25 in the nation for installed solar capacity. Another calculation that potential solar buyers have to consider is the solar payback period.

Source your energy from a retail electric supplier default sources of electric supply for ameren illinois customers. It s smack dead center when it comes to solar energy. An unbound renewable energy company open mon fri. And solar is cheaper than ever before which combined with the the feds 30 solar tax credit and illinois s new direct srec payments means a solar panel system pays itself back quickly and makes you lots of money over its 25 year warrantied life.

On a cost per watt w basis a solar panel installation in illinois ranges in price from 2 63 to 3 55. Solar energy industries ranks illinois no. Solar incentives rebates and tax credits available in illinois in 2020. For your system the value is 7 1 cents kwh produced which is paid in year one.

These are the solar rebates and solar tax credits currently available in illinois according to the database of state incentives for renewable energy website.