Solar Power Rebates Illinois

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

Solar power rebates illinois.

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

Up until this year illinois had offered a rebate for all customers of investor owned utilities comed and ameren. 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. 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. To receive the rebate your solar panel system cannot be larger than 2 000 kw in capacity.

Of the released funds. The tax break reduces. The rebate amounted to 1 500 kw back on solar systems up to 25 of project costs or 10 000 whichever was less. 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.

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. 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. Illinois rebates and incentives summary. 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.

In june 2014 illinois enacted h b. Solar renewable energy credit srec residential. If you re a comed customer and install solar on your business you re eligible for 250 per kilowatt kw of installed solar power. Heating ventilating and air conditioning hvac equipment central air conditioners.

Illinois solar power rebates none grade. Solar incentives rebates and tax credits available in illinois in 2020.