Illinois does not have a tax credit for solar panels, but government incentives exist to support the development of new solar production and help Illinois residents cover the costs.
Illinois shines : Illinois is one of several states that administers the Solar Renewable Energy Credit (SREC) program to support the development of solar energy projects in the state. Homeowners receive an SREC for every 1,000 kilowatt hours produced by their solar panels. According to EcoWatch, "These credits can then be sold to domestic energy companies that meet the government's renewable energy portfolio standard, which requires them to produce at least 25% of their energy from clean sources by 2025."
Known as the Adjustable Block Program, which began in January 2019, the program was so successful that it ran out of funds and was unable to accept new applications in 2021. However, it was renewed following the passage of the Equality and Climate Act in the Workplace in September 2021 and officially opened in December 2021.
Illinois Sunshine for All (ILSFA) . Government incentives are available to help income-eligible homeowners, renters, nonprofit organizations, and government agencies install solar panels at little or no upfront cost. Eligible participants work with ILSFA-vetted and approved providers to obtain affordable solar installations and pay reduced rates for the energy produced over time.
Solar On-Grid Metering – Homeowners can get utility credits to pay for excess energy not used by their home solar systems. Local power companies are required by law to give solar system owners full credit for all excess electricity exported to the grid. It also benefits utility companies, which may already be supplying solar energy to other buildings connected to the same grid.
ComEd Solar Rebate : Commonwealth Edison (ComEd), Illinois' largest electric utility, offers a rebate on non-residential systems: $250 per kilowatt for solar capacity up to 2,000 kW.
