We can’t stress this enough – Illinois currently has one of the best solar programs in the country. The Solar Renewable Energy Credit (SREC) program through the Illinois Power Agency (IPA) pencils to pay for up to half of your entire solar investment. Return on investments for ag/commercial facilities is expected to be as low as a single tax cycle; residential customers can enjoy a 3 to 4-year payback on average given all the current incentives. But the program has a limited capacity so it is advised to jump on it while it lasts!
So with the SRECs, the Federal Tax Credit equal to 30% of the cost of the system, accelerated depreciation available for businesses, and favorable solar policies from the electric utilities (Ameren, ComEd, and various Co-Ops), now is the time to go solar in Illinois.
