Federal and State Incentives
We have the latest information on state incentives in Federal and State incentives and will help you apply for these great prgorams. We also give you new information on the Federal 30% tax credit** that is available! These two incentives help to make a solar PV electric system downright affordable and adds a sensible investment to your home. There might be Solar Renewable Energy Certificates (SRECs) available, which will further decrease costs of ownership.
Illinois State Incentives
Property Tax Exemption of Renewable Energy Systems - Document on tax exemption for renewable energy systems.
New Federal Incentives - Now, no maximum limit on 30% tax credits!
If you are interested in information about another state, you may search the DSIRE site.
So how much can these incentives offset the initial installation cost? The examples below illustrate the savings with existing rebates and credits.
PV Roof System Examples*
|2,000 Watt Solar Array||5,000 Watt Solar Array||8,000 Watt Solar Array|
|Illinois 25% Rebate||- $2,000||- $4,375||- $6,000|
|Federal 30% Tax Credit**||-$2,400||-$5,250||-$7,200|
|Final Cost - Minus potential future SREC's of about $120.00-$200.00/SREC. Approximately 1.5 SREC's are generated each year per 1,000 watts of solar modules installed.||$3,600||$7,875||$10,800|
*Examples include costs for mounting racks, wiring, grid-tie inverter, warranty services, tax, and freight. Prices used are approximate.
** Because Illinois is able to tax its rebate, you may be able to claim 25% off of the full project amount.