With strong state incentives and rising utility prices, Illinois is primed for a solar energy boom. Sunnova is excited to offer our solar as a service plan to homeowners in Illinois. Our goal is to empower homeowners to choose energy independence and clean energy.
Illinois continues to demonstrate a strong commitment to solar energy. In 2016, The Illinois Power Agency (IPA) laid out a plan to acquire 25 percent of Illinois' energy from renewable sources by 2025 - this is a requirement from the Future Energy Jobs Act.1
In 2017, Illinois ranked 33rd among states in solar growth. Over the next five years, The Prairie State is expected to rise to number 13 in solar growth.2
Illinois has a bright future in solar energy. We are excited to join forces with our local partners to make worry-free solar energy services available to residents throughout the states.
Utility Costs are Rising
Commonwealth Edison residential electricity rates continue to rise – between 2014 and 2016, utility rates rose at nearly 3% CARG between 2014 and 2016.
In addition, you may have noticed a recent spike in your ComEd bill starting in June 2018. There is no relief in sight, as rates will continue to increase through 2021.3
Illinois Solar Incentives
Illinois may not be the sunniest state, but there’s more than enough sunlight to power your solar system! Solar panels perform well even in cold winter climates.
If you’re considering investing in a home solar system, you may be able to take advantage of significant federal and state incentives.
Incentive: Solar Renewable Energy Certificate (SREC) Payments for Solar System Owners
If you own your solar system, you could be eligible for Illinois Power Agency’s (IPA) generous Solar Renewable Energy Certificate (SREC) program. You may get cash upfront for your solar system!
Because 25 percent of Illinois’ energy must come from renewable sources by 2025, the IPA is encouraging everyone in IL to help meet the 25 percent goal.
SRECs are a way for state agencies to “purchase” the benefit of your solar energy production to add to their renewable energy goals.
Your solar system will contribute to Illinois’ 25 percent renewable energy goal, so IPA will give you cash SRECs upfront based on your solar system’s installed capacity and predicted production. The SCRECs are paid after your system is connected.
The SREC program uses a “block” structure to determine pricing. As more IL residents install solar, there are fewer funds available for SRECS – the sooner you get solar and sign up for SRECs, the better.
|Block Group||Block Category||Block 1||Block 2||Block 3|
|Group B (ComED)||Small||≤ 10kW||$72.97||$70.05||$67.25|
Applying for the SREC incentive is easy.
Incentive: Net Metering
Your solar system is designed to produce most or all of the power for your home. However, at night or on cloudy days, you may need to draw electricity from the grid.
A net meter is a critical piece of your solar system – the net meter keeps track of the energy you receive from the grid and any excess energy your solar system sends back to the grid. With net metering, you receive a credit on your utility bill for the excess energy your solar system produces and sends back to the grid.
Net metering = electricity delivered from ComEd – excess solar production exported to ComEd
Commonwealth Edison offers net metering benefits to customers with a home solar system.
Incentive: Property Tax Break
Even though solar systems could add to a home’s property value4, there’s no need to worry about increased property taxes. In Illinois, solar customers can claim a property tax break under The Special Assessment for Solar Energy Systems. For more details, we recommend you reach out to your local county assessor's office and consult with your tax advisor.
Incentive: Federal Investment Tax Credit
With the purchase of a solar system, you may be eligible for a federal Investment Tax Credit (ITC). The ITC is a 30% tax credit for solar systems on the solar system. Certain restrictions apply.5 We recommend you speak with your personal tax advisor for eligibility requirements.
5 Homeowners may be eligible for a federal Investment Tax Credit (ITC) with the purchase of a solar system. To receive the full federal tax credit, they must have federal income tax liability at least equal to the value of the tax credit. If homeowners reside in a state that offers the Solar Renewable Energy Certificate (SREC), they must assign ownership of the SREC to Sunnova. Sunnova makes no guarantees regarding homeowner eligibility for tax benefits or SREC and does not provide tax advice.
Find out how much you can save with solar power. There’s no obligation, so you have nothing to lose -- except part of your electricity bill.