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! Solar Service will complete the state application paperwork for your convenience.
State Rebate: Once a year, the State of Illinois offers a 30% cash rebate capped at $30,000 or $2.25 per watt (PV only) towards the purchase of solar thermal or solar electric technologies. Funds for the 2011-2012 fiscal year have been fully allocated but speak to a Solar Service Representative for information regarding future rebate programs. For more information about this self funded program, please go to the Department of Commerce and Economic Opportunity website.
Residential Example - sample 2 panel hot water system*
$11,000 Base Price
($ 3,300) Less 30% Federal Tax Credit
($ 3,300) Less possible 30% State Rebate
$ 4,400 Total Out-of-Pocket Expense
Residential Example - 3kW PV system*
$19,500 Base Price
($ 5,850) Less 30% Federal Tax Credit
($ 5,850) Less possible 30% State Rebate
$ 7,800 Total Out-of-Pocket Expense
Commercial Example - sample 10kW PV array*
$57,750 Base Price
($17,250) Less 30% Federal Tax Credit
($ 9,750) Less Accelerated Depreciation (assumes 20% tax bracket)
($17,250) Less possible 30% State Rebate
$13,500 Total Out-of-Pocket Expense
* (actual pricing varies based on complexity of installation)
Solar Service has assisted commercial customers receive grants for nearly $15m in projects 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 renewable energy technologies by providing grants up to 60% of project costs. All renewable energy proposals are considered twice a year during the Foundation's two competitive grant cycles. The application periods begin in January and July (PV) and March and September (thermal). Awards are usually announced two months later.
- State Grant: The Illinois Department of Commerce and Economic Opportunity (DCEO) is offering grants for community-scale solar and wind projects located in Illinois. Eligible businesses can apply for up to 30% of project costs, and government and nonprofit entities can apply for up to 50% of project costs. Business photovoltaic (PV) projects are limited to $2.25/watt, and nonprofit and government PV projects are limited to $3.75/watt. Application deadline is October 28, 2011.