Have you debated installing solar panels? It’s no secret that solar panels can be a great investment, not only as a way to become more eco-friendly, but also as a way to save money on your energy bills. However, they are a big investment upfront, and it’s not uncommon for people to debate about installing solar panels for years. At Sun Badger Solar, we are proud to be the go-to solar panel installation company in Illinois, and if you’re still debating if solar installation is the right investment for you, we can help. Continue reading to learn about some of the Illinois-based incentives you could experience by installing solar panels, and give us a call to get started today!
Property Tax Break
One of the most well-known incentives of installing solar panels is the property tax break. It’s not uncommon for people to stress about their taxes increasing when they make such a big change to their home, but with solar panels, you don’t have to worry! The Special Assessment for Solar Energy Systems makes a special exception for solar panels, meaning that your home will be taxed as if they aren’t even there!
The Illinois Shines Program
Another incentive offered to homeowners in Illinois is The Illinois Shines Program. This program was created because the state committed to producing 25% of its electricity from renewable resources by the year 2025. Because this is such an ambitious goal, the state created a program that rewards homeowners for helping Illinois reach this target. Through this program, each megawatt hour (MWh) produced by a solar system is granted one Solar Renewable Energy Credit that you can sell and use to create an income stream. Together with the 26% Federal income tax credit, Illinois homeowners can get more than half their solar energy system cost credited back!
Illinois Net Metering
The Illinois Net Metering policy is a unique policy that allows utility companies to buy back any excess electricity that your solar panels produce. Not only can this provide homeowners with an additional income each month, but it can also help balance out your electricity production and consumption.
ComEd Commercial Solar Rebates
Commonwealth Edison, also known as ComEd, is one of the largest utility companies in Illinois. For this reason, they offer their own incentive for consumers to install solar panels. With the ComEd Commercial Solar Rebates, business owners are offered rebates to help decrease the out-of-pocket cost of installing your solar panels. However, this offer is only available for commercial and industrial customers.
There are many advantages to installing solar panels, and if you live in the state of Illinois, there are even more! If you think that one of these incentives could be for you, then Sun Badger Solar is here to help. Visit our website to learn more about Sun Badger Solar Installations in Illinois. Calculate your solar costs and get a free quote from one of our experts. And as always we need to mention that Sun Badger is not a tax preparer, accountant, or lawyer. We are not giving you individualized tax advice and you should consult your own advisors