Harnessing Sunshine and Savings: Solar Tax Incentives in Illinois

Thinking about going solar in Illinois? You're not alone. The initial price tag can be intimidating, but the Land of Lincoln has stepped up, providing a suite of incentives to make the switch more affordable and rewarding. Let's uncover these opportunities.

The Sunshine Deal: Illinois Shines Initiative

Illinois has an ace up its sleeve: the Illinois Shines program. Here's the scoop: for every 1,000 kilowatt-hours (kWh) your solar system generates, you earn one Solar Renewable Energy Credit (SREC). These credits can be sold at market rates to local power companies. There's a catch, though—you need to team up with an approved vendor to qualify. Despite a waitlist, it's a deal worth considering. Find out more.

Solar Access for All: The ILSFA Program

For low-income families and nonprofit organizations, Illinois rolls out the red carpet with its Illinois Solar for All (ILSFA) program. This program allows eligible participants to either join community solar programs or install solar panels at a minimum cost. The ILSFA covers:

• Low-Income Distributed Generation

• Low-Income Community Solar

• Nonprofit Organizations and Public Facilities

Want to check if you qualify? Visit the ILSFA website for more information.

Chicago's Gift: The Green Building Permit Program

Chicago residents have an extra incentive: the Green Building Permit Program. This program fast-tracks the permit process and offers potential reductions in permit fees, saving you time and money. Curious?

Check out the City of Chicago website.

Save More with Property Tax Exemptions.

One of the biggest perks of going solar in Illinois is the property tax exemption. This means your property value may go up with the addition of solar panels, but your property taxes won't.

Discover more about these benefits.

Extra Cash in Your Pocket: Net Metering

Imagine getting paid for the surplus energy your solar system generates. That's what net metering in Illinois offers. Utility companies like Ameren Illinois Utilities, Commonwealth Edison (ComEd), and MidAmerican Energy Company give you credits for extra energy. Interested?

Visit the Illinois Attorney General’s website.

Boost Your Savings: Federal Solar Tax Credit

On top of state incentives, the federal solar Investment Tax Credit (ITC) lets you claim a credit equal to 30% of your solar installation costs. It's a fantastic way to offset the upfront expense of your system. But remember, this credit is only for solar system owners.

Going solar in Illinois can save you a bundle, thanks to a broad range of incentives and programs. You get to save money while helping the planet—a win-win. If you're thinking about commercial solar, get in touch with GAIN Renewables. Email Tad at tad@GAINrenewables.com, and let's start your solar journey together. Remember, every day the sun rises is another opportunity to save.