Bringing Solar Energy to You
Solar in Illinois Is More Affordable than Ever Before
Reducing your carbon footprint and your reliance on traditional sources of utility power, like coal and natural gas, is a great reason to join the rooftop revolution. Illinois has set a goal of producing 25% of the state's power through renewable sources, like wind and solar, by the year 2025. But that isn't the only reason going solar makes sense (and cents). Homeowners are eligible for a 26% Federal Investment Tax Credit (ITC) when they choose to go solar. This means that you can realize substantial savings through solar ownership by deducting 30% of your system's price from what you owe Uncle Sam at tax time. The state also offers a Solar Renewable Energy Credit (SREC) program to further incentivize investments in solar energy. Plus, utility companies in the state offer Net Metering to compensate you for any excess energy produced by your solar system.
- 26% Federal Tax Credit
- Renewable Energy Credits (RECs)
- Sell Your Extra Production with Net Metering
How to Solar Up in Illinois
First, the federal government offers a 30% tax credit which is available in all 50 states. This credit is applied to the federal taxes you pay each year, thereby lowering the net cost of your solar system, and has been extended to last until at least 2020. This credit is a great benefit of going solar: money that you would otherwise pay in taxes can now be used to own your solar system sooner.
Secondly, Illinois offers Renewable Energy Credits which can generate thousands of dollars of cash savings in addition to your utility bill savings. For more information on RECs, please see the next question!
Finally, like many other states, Illinois utilities have Net Metering policies which allow homeowners to be credited for extra energy fed back to the power grid. If designed optimally, a homeowner can expect to offset 100% of their current electricity use while also having some left over to sell back to the grid.
From a homeowner's perspective, Renewable Energy Credits are an additional source of savings that can add thousands of dollars of cash savings each year – on top of your utility bill savings! These RECs are a key driver of the economic benefits of going solar in Illinois, and help homeowners save money immediately.
When you begin to generate your own solar power, your utility bill can drop significantly. How much you can save will depend on the size of your solar system, your electricity usage, your current utility rates, and other factors. Our team and partners can design a system for you using remote assessment tools, and can present you with a system designed specifically for your home to give you a sense of your expected solar savings.