Is Solar Energy Worth It In Illinois

The solar renewable energy credit srec this system lets homeowners generate credits for every.

Is solar energy worth it in illinois. If you have enough to make a purchase in cash you ll save more than with any other option but even with a 0 down solar loan your savings could still be in the tens of thousands. When installing solar in illinois any reputable installer will alert you to alternative valuation of energy systems on your property. The bill which remains available today provides a property tax easement by equating the solar equipment to be valued at no more than the value of a conventional energy system. While solar leases and power purchase.

Whether you choose to buy or lease your solar panels will have a major impact on your system s long term value. There are three primary rebates that homeowners in chicago can use to bring down the costs of their solar investment. The amount of the incentive is based on the amount of renewable energy the panels will produce but for most people it ends up being worth about another 30 of the cost of a system. The renewable portfolio standard rps in illinois mandates that electric utilities obtain 25 of their energy from renewable energy sources by 2025.

Naturally all illinois residents qualify for the 26 percent federal itc tax credit. For solar energy the first major step illinois took to encourage installations was to pass the special assessment for solar energy systems in 1998. How are you financing your solar panel system.