Illinois Solar Renewable Energy Credits (SREC) place an environmental value on the electricity produced by solar panel systems available from Sun Collectors. These credits are created if you install a residential, commercial, or agricultural solar system that produces more electricity than you use. However, the credits are not the electricity itself.
Under the Illinois Shines program established by the state government, whoever owns the credits has the right to say they used solar power. Therefore, utility companies must pay you for credits produced by your solar panels to fulfill their renewable energy obligations. In addition, these credits provide tremendous value for businesses with commercial solar systems who can say they used solar power.
Typically, the average solar for homes produces 50 to 200 Illinois Solar Renewable Energy Credits over a 15-year lifespan. So, you can sell your credits to utility companies by participating in the Illinois Shines program. This will not affect your solar system’s productivity, or your net metering credits. Consequently, you can quickly start making money when you install solar panels. Contact Sun Collectors and watch this video for more information.
In the Illinois Shines program, you earn one Illinois Solar Renewable Energy Credit for each megawatt-hour (MWh) of electricity produced by your solar system. Typically, solar systems can run for 15 to 30 years. Using a 15-year example, the average residential system could produce $10,000 in credits. In addition, commercial customers of ComEd are eligible to receive a $250 rebate per kilowatt (kW) of installed solar power. To receive the rebate, your solar panel system cannot be larger than 2,000 kW in capacity.
You are not required to sell your credits. Plus, you can sell them to another party besides utility companies. However, you will likely benefit the most financially from participating in the Illinois Shines program and allowing your credits to be sold. Most importantly, your solar panels are more likely to save you money if you sell your credits. If you have any questions about Illinois Renewable Energy Credits or selling them, ask a Sun Collectors representative for answers.
Sun Collectors can assist you in the sale of credits to the utility company. Therefore, all the details can get ironed out quickly and easily. You will not need to actively market or sell the credits on your own. For more information, please contact Sun Collectors for help in finding the information you need.
Sun Collectors can install a new solar system for you with $0 money down financing and plans that cost as little as $49 per month. If you act quickly, you can also offset the cost of installation with the Federal Investment Tax Credit (FTC). As a result, you can deduct 30% of your cost to convert to solar on your taxes. Then, you can begin selling credits right away when your system produces more power than you use. Consequently, the available financing, tax incentives, and profit from sales of your credits. As a result, it will likely make installing a solar system cheaper than what you are already paying for electricity each month. Contact Sun Collectors now for a free in-home consultation on solar panel installation. Click here to learn more about the many benefits and programs available for solar energy.
