Illinois Solar Panel Rebates

There may still be other local rebates from your city county or utility.

Illinois solar panel rebates.

Commonwealth edison offers the top utility net metering program in illinois. Solar renewable energy credit srec residential. Because home and business owners want to get the largest incentive amount possible solar panel installation companies will likely be flooded with new projects before year s end. This is a.

Solar incentives rebates and tax credits available in illinois in 2020. Comed commercial solar rebates. For illinois the average solar payback period is 9 31 years. The funds are typically allocated on a first come first serve basis until the budget has been spent.

Illinois solar incentives illinois solar power rebates. And the state is more or less on pace to hold its position. Another choice that solar shoppers have to face is how to pay for a solar panel system. In 2014 illinois installed 6 megawatts of solar capacity which ranked it 27 th for growth that year.

Please note this is an incentive which is subject to tax. All of illinois can take advantage of the 26 federal tax credit which will allow you to recoup 26 of your equipment and installation costs for an unlimited amount. This term tells us as at what time you will recover your initial investment through electricity savings from your solar system. If you re a comed customer and install solar on your business you re eligible for 250 per kilowatt kw of installed solar power.

At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation. Comed one of il s largest utility companies provides rebates for commercial and industrial c i customers to help decrease the out of pocket costs of installing solar. 25 in the nation for installed solar capacity. The state of illinois offers a 25 rebate to help illinois residents and business owners pay the costs of installing solar energy products in their homes.

Up until this year illinois had offered a rebate for all customers of investor owned utilities comed and. 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. For your system the value is 7 1 cents kwh produced which is paid in year one. Illinois solar tax credits.

It s smack dead center when it comes to solar energy.