Illinois Solar Panel Rebate

Solar incentives rebates and tax credits available in illinois in 2020 the most significant incentive to install solar panels for homes and businesses is the federal solar tax credit.

Illinois solar panel rebate.

The illinois adjustable block program is an incentive program that supports the development of new solar systems in illinois through the purchase of renewable energy credits or recs. 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. Payments vary depending on the size of the system and where it is located. At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.

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. It enables the sale of recs produced by solarsystems to illinois utilities. And solar is cheaper than ever before which combined with the the feds 30 solar tax credit and illinois s new direct srec payments means a solar panel system pays itself back quickly and makes you lots of money over its 25 year warrantied life. Now let s discuss that chart above.

If you re a comed customer and install solar on your business you re eligible for 250 per kilowatt kw of installed solar power. To receive the rebate your solar panel system cannot be larger than 2 000 kw in capacity. Of the released funds half are set aside for pv systems less than 25 kilowatts in nameplate capacity such as residential rooftop systems.