Solar Incentives for Investing in Renewable Energy
Recently, new renewable energy legislation passed, paving the way for the return of some excellent solar incentives in Illinois. And what better way to invest in renewable energy, save the environment and save some extra money than installing new solar panels? Through the Sun Collectors, we can help you take advantage of the latest solar incentives and get you started on the path towards clean energy production.
The Latest Available Incentives
Illinois’ sweeping new clean energy law introduced both new and old incentives for solar, and the time has never been better to consider installing solar panels for your home or business! Here’s some of what you can look forward to when making the switch to solar:
- Solar for All – For low-income households considering solar, you might qualify for Illinois’ Solar for All programs. Communities across the state are helping families under a certain income threshold to get a significant portion of solar panel installation covered.
- Federal Solar Investment Tax Credit (ITC) – Although not technically through Illinois, this incentive is too good not to pass up for first-time solar installers. If you buy and install new solar panels in 2021, you can receive up to 30% back on installation costs through your federal tax return. By 2023, the residential ITC will drop to 22%.
- Adjustable Block Program (ABP) – The ABP is one of the returning solar incentives for Illinois, per new legislation. This program allows those producing solar energy to earn Solar Renewable Energy Credits (SRECs) for every kilowatt-hour of solar power generated. In turn, you can sell back these credits to the market, providing an extra income stream.
- Net Metering – Another program for those producing solar is net metering. Through this incentive, any extra energy you produce but don’t use within the month is kept track of and rolled over into the next. Overall, this program helps provide extra solar energy to use during the winter, when production can sometimes dip. It also contributes to lower costs for your monthly utility bill.
How the Sun Collectors Can Help
Not only do the Sun Collectors help set up households and businesses with solar incentives in Illinois, but we provide a few incentives of our own! If purchasing a new solar system through our list of approved vendors, you can take advantage of our $0 financing. In other words, you pay no upfront costs or initial installation fees; instead, we work out manageable monthly payments, sometimes as low as $49 per month.
Call Today
If interested in solar, be sure you’re getting every solar incentive in Illinois you can with the help of the Sun Collectors! To learn more or receive a free quote, call us today at 309-323-8260. Also, we are located at 4507 N Sterling Ave, Ste 400, Peoria, IL 61615.
