Solar Power in Illinois
Illinois aims to get 25% of its electricity from renewable sources by 2025, and solar panels are being used to reach this goal.
In the past decade, the cost of solar energy has significantly decreased.
However, it still presents a significant investment for homeowners and business owners who aim to reduce their electricity expenses.
To encourage wider adoption of solar energy among homeowners, governments, and utilities are providing incentives to make it more affordable and accessible.
Illinois has a highly favorable environment for solar power installation, with state incentives, policies on net metering, Renewable Portfolio Standard (RPS) goals, and property tax exemption for consumers of solar energy.
Illinois Solar Incentives
Federal Investment Tax Credit
Allows homeowners, nationwide who own their solar energy system to claim a credit equal to 30% of their solar installation costs on their federal taxes.
The ITC does not function as a tax deduction or refund; rather, it serves to decrease the amount you owe in taxes.
Illinois Shines
(Adjustable Block Program)
Illinois Shines is the brand name of the Adjustable Block Program, a state-administered program for new solar energy systems.
This program provides payments via Renewable Energy Credits (RECs), varying depending on system size and location.
Illinois Solar For All
Designed for low-income residents and nonprofit organizations.
Eligible households can take part in community solar initiatives or install solar panels at a reduced cost.
Net Metering
Solar owners are rewarded for the surplus energy generated by their systems.
Unused energy generated by your solar panels will be credited back to you, providing a reliable and cost-effective energy solution.
Property Tax Breaks
The state of Illinois offers a property tax exemption for homeowners who install a residential solar system.
This means that though your property value will increase, your property taxes will not.
For more information on
Illinois Incentives, click here.
Is it Worth it to Go Solar in Illinois?
Illinois offers a variety of incentives for solar initiatives, making it a top choice for environmentally (and financially) conscious homeowners..\
It's important to keep in mind that these current incentives and policies won't be available forever,
so it's best to take advantage of them now!
The time to prioritize sustainability is now; not only for the betterment of the environment but also for your own financial security.
What are the Benefits?
Lower
Electricity Bill
If your electricity bills are high, you can consider installing a solar system to reduce those costs and enjoy long-term savings.
Reduce Carbon Footprint
Choose solar energy over fossil fuels to reduce greenhouse gas emissions and support a sustainable future.
Gain Energy Independence
By taking control of your power sourcing, you can avoid being impacted by utility rate increases.
How Much Do Solar Panels Cost in Illinois?
The cost of solar panels has decreased substantially over the last few decades.
With the continuous rise in electricity rates, there has never been a better opportunity to go solar and realize significant cost savings.
Simply put, solar panels are only worth it if you want to:
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Take charge of your electricity expenses
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Protect yourself from rising energy costs
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Reduce your carbon emissions
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Increase your home value
The cost to install solar has dropped by more than 50% over the last decade, leading the industry to expand into new markets and deploy thousands of systems nationwide.
Make the switch to solar energy today and enjoy the peace of mind of knowing you're investing in a brighter future.