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.
Solar systems in illinois.
That makes a typical 5 kw solar system in illinois abot 5 300 more expensive than last year.
In the last year alone they have over doubled their output.
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.
Both systems will be rated at 2 mw and combined will help the company save over 200 000 in annual energy costs.
Solar incentives rebates and tax credits available in illinois in 2020.
The bill which remains available today provides a property tax easement by equating the solar equipment to be valued at no more than the value of a conventional energy system.
Illinois has a rich history with solar power as the first experimental solar power plant was created in olney illinois in 1902.
For solar energy the first major step illinois took to encourage installations was to pass the special assessment for solar energy systems in 1998.
With solar panels dropping in cost across the country illinois looks poised to make a significant shift to solar power moving forward.
The illinois solar energy association isea is a non profit organization that promotes the widespread application of solar and other forms of renewable energy through education and advocacy.
Wastewater treatment company illinois american water is working with sol systems to develop two solar fields on its property in champaign and peoria illinois.
Solar panels in illinois also now receive a state based incentive.
The energy saving photovoltaic pv fields will be located.
Isea is the state resource for renewable energy related policy developments educational classes events and access to local renewable energy vendors.
Illinois residents are used to extreme weather.
Illinois american water the largest investor owned water utility in the state is working with sol systems to develop two solar fields.
But as severe rain scorching heat and tornadoes become more common across the prairie state due to climate change 4 clean safe and reliable energy is more important than ever.
The amount of the incentive is based on the amount of renewable energy the panels will produce but for most people it ends up being worth about another 30 of the cost of a system.
Sadly the rebate is now closed and it looks like it ain t coming back.
The rebate amounted to 1 500 kw back on solar systems up to 25 of project costs or 10 000 whichever was less.
There are plenty of incentives for solar power in illinois making a residential pv system an attractive investment.
