Residential & Commercial systems
Federal Tax Credit: Residential & Commercial Solar Thermal and Solar Electric systems are eligible for a 30% uncapped Federal Tax Credit. This is the most generous tax credit in history saving homeowners thousands on their installed purchase price.
In addition, commercial systems are eligible for an accelerated depreciation allowing for 85% of the value to be claimed over a 5 year period, greatly reducing the net investment for solar!
State Renewable Energy Credit Program: The State of Illinois offers a "performance-based incentive" for photovoltaic system owners. This program allows solar owners to sell the rights to the carbon offsets of their solar arrays. In English? By generating a clean electron, the utility does not need to produce a dirty one. There is monetary value to that asset and the state is currently entering into 5 year contracts to pay system owners through a device called a REC (1,000 kWh of clean electricity generated). This revenue stream is over and above the energy savings received by creating power on site, reducing utility bills. The state works through 3rd party aggregators who will register owners but Solar Service will help with the mechanics of it all. Speak to a Solar Service Representative for updated pricing information.
State Rebate & Grant Program: Due to state budget issues, the Illinois Department of Commerce and Economic Opportunity (DCEO) is not currently accepting applications for renewable energy grants. Speak to a Solar Service Representative for updated information or go to the Department of Commerce and Economic Opportunity website for additional details.
Solar Service has assisted commercial customers to collectively fund over $15m in project costs over the past 3 decades. Speak to a Solar Service Representative to see how we can help you too.
- Illinois Clean Energy Community Foundation: The Illinois Clean Energy Community Foundation helps non-profit groups and local government organizations to purchase and install solar thermal systems by providing grants up to 60% of project costs, capped at $100/s.f. of collector area All renewable energy proposals are considered twice a year during the Foundation's two competitive grant cycles, typically January and July. Awards are typically announced four months later. The Foundation is not currently accepting applications for photovoltaic systems.
- State Grant: Due to state budget issues, the Illinois Department of Commerce and Economic Opportunity (DCEO) is not currently accepting applications for renewable energy grants.