Are you a home or business owner in Wisconsin or Illinois looking to save some money? You’re in luck! Switching to solar energy is not only great for the environment, but you can also benefit from some great solar panel incentives. Keep reading to learn how you can save money just by having solar panels in Wisconsin or Illinois!
Wisconsin residents and businesses have some of the best national solar incentives available. Whether you’re a homeowner or a business owner, you can get up to 50% of the costs credited back. See how this breaks down for residents and business owners:
Immediately after your system is installed, Focus on Energy will provide up to $2,000 in cash for unshaded, south-facing roofs. And if you live in specific eligible zip codes, you could get up to $2,000 more. Additionally, a 30% federal tax credit will also be provided.
Focus on Energy offers up to $4000 toward the cost of a solar energy system for any commercial business (meaning, any property outside of a 1-3 unit home). Wisconsin businesses can also take advantage of the 30% federal tax credit. And last but not least, business owners can take a 100% bonus depreciation in the first year of having solar panels installed.
The solar incentives in the Prairie State aren’t too shabby either! If you live or run a business in Illinois, you can get up to 70% of the costs credited back. Here’s how residents versus businesses can benefit:
A 30% federal tax credit will be given to anyone who installs solar panels for their home. Illinois customers are also entitled to 30-40% from Renewable Energy Credits under the Adjustable Block Program, also called Illinois Shines. This program offers a set price for purchase of Renewable Energy Credits though 15-year contracts, and the price is adjusted for new blocks.
Commercial solar installations benefit from the same federal tax credit and Adjustable Block Program incentives as residential, with a few extras! Similar to Wisconsin, businesses can get up to $4000 back for unshaded, south facing roofs. Customers will also receive a 100% bonus depreciation in their first year of solar panel ownership.
As with the other states, Minnesota residents are eligible for the 30% federal tax credit. Additionally, Minnesotans can take advantage of a state-specific solar utility rebate of up to 25% on 20 kW or less. Those credits and rebates combine for up to 55% off! Eligibility varies by county, so contact us to learn if your home applies.
Businesses operating in Minnesota also get that same 30% federal renewable energy tax credit. Similar to residential, commercial solar projects in Minnesota can get up a utility rebate up to 25% on 20kW or less.
If that all sounds too great to be true, we assure you it’s not. We’re living in a golden time for solar panel installation! To take advantage of these incredible state and federal solar incentives, all you have to do is contact us. We’ll walk you through every step of the process and help you save as much money as possible!