See the Amazing Solar Incentives for Peoria IL!
The one continual roadblock for those looking to invest in solar has always been price. However, in Illinois, efforts are being made to reduce the initial cost of solar panels and introduce more ways to save money through energy production! And with recently passed renewable energy legislation, there’s never been a better time to take advantage of solar incentives in Peoria IL. Call the Sun Collectors today to see how we can help you achieve your dreams of solar!
What Incentives are Available?
Whether you’re a homeowner, farmer, or business, plenty of solar incentives are available for you in Illinois. To phase out coal and natural gas by 2050, Illinois is doing everything it can to encourage solar growth for its residents. For example, some incentives include:
- Federal Solar Investment Tax Credit (ITC) – While this program is offered through the federal government, not Illinois, it’s still worth utilizing. If you plan on installing new solar panels in 2021, you can receive up to 30% back on installation costs via your next tax return. However, once 2023 hits, those ITC savings go down to 22%.
- Adjustable Block Program (ABP) – The new renewable energy legislation reintroduced this popular program for Illinois residents. Just by producing solar energy through your panels, you receive a Solar Renewable Energy Credit (SREC) for every kilowatt-hour you make. These credits can then be sold back to the energy market, helping you earn a tidy sum on the side.
- Solar for All – For those households in the lower-income bracket, solar is still obtainable through Illinois’ Solar for All programs. You can apply to have a significant portion of your solar panel installation covered if you meet specific qualifications, similar to the ITC.
- Net Metering – Finally, if you produce more solar energy than you use, you can take advantage of net metering in Illinois. Net metering is a sort of roll-over program where any unused energy you produce is applied to your next utility bill. Not only does this cut down on utility costs, but it helps supplement your energy bill in months where you might produce less.
The Sun Collectors Incentive
While the Sun Collectors can set you up with any number of solar incentives in Peoria IL, we also offer a few of our own. For example, if installing new panels through our approved vendors, we can offer $0 down financing on your solar system. This financing means you pay no upfront costs or fees for installation. Instead, we set up a manageable monthly payment plan, with costs as low as $49 per month.
Give Us a Call
Before making the switch to solar, be sure to talk with the Sun Collectors to discover all the solar incentives in Peoria IL available to you. To learn more or request a quote, contact us today at 309-323-8260. Also, we are located at 4507 N Sterling Ave, Ste 400, Peoria, IL 61615.
