Solar Power Rebates Illinois

Illinois solar rebates and incentives.

Solar power rebates illinois. There are plenty of incentives for solar power in illinois making a residential pv system an attractive investment. 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. 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. 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.

Heating ventilating and air conditioning hvac equipment central air conditioners. Up until this year illinois had offered a rebate for all customers of investor owned utilities comed and ameren. Solar incentives rebates and tax credits available in illinois in 2020. The illinois energy star appliance rebate program will provide rebates for.

In june 2014 illinois enacted h b. The tax break reduces. Solar renewable energy credit srec residential. 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.

Illinois rebates and incentives summary. To receive the rebate your solar panel system cannot be larger than 2 000 kw in capacity. 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 power rebates none grade.

For your system the value is 7 1 cents kwh produced which is paid in year one. Illinois solar power incentives tax breaks and rebates. 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. Ameren illinois wants to help you understand the options available to you and how those options may affect your service.

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.