Are you living in Illinois and planning to go solar? It may seem expensive when looking only at the initial investment.
However, you have a unique opportunity to benefit from federal, state, and local programs. After all, Illinois ranks among the top in the number of programs. Solar energy renewable credits can save you thousands of dollars. We will tell you about the features of such initiatives.
Due to its unique policies, Illinois compares favorably with other states, especially in the area of solar energy renewable credits and solar initiatives.
The main key aspects can be seen as:
1. Comprehensive renewable energy legislation.
2. Multiple programs that provide tiered incentives for solar installations.
3. Robust net metering policies that offer offsets for excess electricity, such as solar renewable energy certificates, Illinois.
4. An aggressive renewable portfolio standard (RPS).
5. Innovative financing options (solar renewable energy credits in Illinois).
6. Comprehensive support for electric vehicles (EVs) – rebates and incentives for their purchase.
7. Climate and energy justice (focuses on making sure the benefits of renewable solar energy are felt by everyone in the state).
The state has invested a total of $5.2 billion in solar energy, and prices have fallen 43% over the past 10 years.
Local municipalities and utility companies offer a variety of solar renewable energy credits in Illinois for those who want to install solar panels. For example:
In addition to statewide programs and Illinois solar renewable energy credits, it is also possible to qualify for local incentives such as:
Illinois is one of the most favorable states for solar energy deployment, so there are many incentives for residents to install and support solar projects. The solar renewable energy credit program is also widely used.
How much are renewable energy credits worth? Let’s review and compare some of them.
| Incentives | Description | Right to participate | Price |
| Residential Clean Energy Loan | Reimbursement of 30% of the cost of the solar system | All Illinois residents | About $7200 (based on the average cost of an 8 kW solar panel) |
| Solar Property Tax Adjustment | What does solar tax credit mean? If you already have a solar system, you can work with your tax preparer to calculate the value of the property downward based on whether it has a solar system or a conventional heating and cooling system | All Illinois residents | About $497 per year (may vary depending on home price, solar installation, and local taxes) |
| Commonwealth Edison Co. (ComEd) Distributed Generation Rebate (utility company) | Discount on installation of solar panels and energy storage | ComEd Clients | Up to $300 per kilowatt of power for a qualified solar system and the same for an energy storage device |
| Ameren Illinois (Utility Company) Smart Inverter Rebate | Discount on installing a smart inverter | Ameren Illinois Clients | Up to $300 per kilowatt |
| Group purchasing programs Solar | Training and group discounts for solar panels | Residents of Urbana-Champaign and the Chicago metro area | Calculate |
| Illinois Shines (national program) | Upfront financing of 15-year solar renewable energy loans | All residents | Varies |
| Illinois Solar for All (national program) | Covers all solar system costs for residents who earn less than 80% of the area median income | Illinois residents who are eligible for income | Varies |
| Net metering | This metering allows excess solar energy to be sold back to the utility | ComEd, Ameren, and MidAmerican users | Varies |
| Solar renewable energy credits, or SRECs Illinois | Illinois residents who install the best solar panels can earn credits for the kilowatts produced by their panels. Then, sell solar renewable energy certificates (SRECs) | All Illinois residents who have them can do the Illinois SREC calculator | Solar renewable energy credits SRECs vary |
Rebates for solar appliances (water heaters or battery storage systems) are available in some parts of Illinois. They help offset upfront costs and promote comprehensive solutions that go beyond solar panels alone.
Depending on specific utility companies, there are different offers and rebates for solar devices. Most notable are the following:
Includes all sorts of solar incentives to support residential and commercial customers in installing solar energy systems in their service area. The rebate amount depends on the size of the system and the customer’s class. Approximately up to $300 for each kilowatt of solar capacity.
Provides rebates for residential, commercial, and industrial customers in this service area who install solar energy systems.
A portion of the companies that are part of IMEA offer rebates and incentives for solar energy. Extended to customers who participate in municipal electric companies. The rebate amount varies by municipality.
These utilities offer their customers in Illinois solar incentives for solar water heating systems. The rebate will depend on the size of the system.
These are group purchase programs that provide rebates to residents and businesses in the area for solar system installations. The rebate amount varies depending on the group purchase agreements.
To accurately understand solar renewable energy credit prices and terms, contact your local utility company or municipality directly.
Looking to install a solar system in Chicago? Get your free solar quote in a matter of minutes!
To encourage the adoption of solar energy, Illinois has established net metering rules. It is worth distinguishing between solar renewable energy credits (SREC) and net metering.
Through net metering, residential, commercial, and industrial customers who generate their electricity will receive solar renewable energy credits for excess generation and return it to the grid.
Your utility company will only charge you for the net electricity you use (or other fixed charges). You will receive Illinois solar renewable energy credits for excess electricity generated.
To participate in this program, you must own or operate a renewable electricity generator with a capacity of up to 2000 kW. Electricity generation can be from more than just a solar or wind system. For example, renewable electric generators can be powered by one of the following sources:
Are you interested in solar energy, but there’s no way to install panels? That’s not a problem in Illinois! The community solar renewable energy program allows you to go solar even without installing panels on your property.
This was made possible by the Future Energy Jobs Act of 2016 (it created a community solar program for Illinois) and the Climate and Equal Jobs Act of 2021 (CEJA) (strengthened it by providing financial support for 250 MW for prospective projects and 150 MW per year for future projects).
This is how community solar programs came into being, allowing residents to connect to the nearest solar power plant (solar garden) for a monthly subscription fee. And in return, receive a discount on their electricity bill without having to install panels on their property.
It goes like this:
These projects allow everyone to use electricity and benefit from it, making solar energy affordable for both renters and homeowners in the state.
Illinois solar renewable energy credits are plentiful, and it can be easy to get lost in their variety.
Looking to install a solar system in Chicago? Get your free solar quote in a matter of minutes!