Solar Power Rebates Illinois

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.

Solar power rebates illinois.

Illinois solar rebates and incentives. 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. There are plenty of incentives for solar power in illinois making a residential pv system an attractive investment. Up until this year illinois had offered a rebate for all customers of investor owned utilities comed and ameren.

If you re a comed customer and install solar on your business you re eligible for 250 per kilowatt kw of installed solar power. For your system the value is 7 1 cents kwh produced which is paid in year one. 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. Solar incentives rebates and tax credits available in illinois in 2020.

The illinois energy star appliance rebate program will provide rebates for. Private utility companies will give you back 25 of the project cost and then you will be able to apply the 30 federal tax credit on the solar pv system price after the. Illinois rebates and incentives summary. Solar renewable energy credit srec residential.

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. The rebate amounted to 1 500 kw back on solar systems up to 25 of project costs or 10 000 whichever was less. Heating ventilating and air conditioning hvac equipment central air conditioners. Illinois solar power incentives tax breaks and rebates.

In june 2014 illinois enacted h b. To receive the rebate your solar panel system cannot be larger than 2 000 kw in capacity. Of the released funds. 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.

Illinois solar power rebates none grade. 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.