Going Solar is Simple with SunnyRate's Illinois Solar Incentives and Rebates

Going Solar is Simple with SunnyRate's Illinois Solar Incentives and Rebates

Illinois ranks 5th among states with the lowest average power bills, according to U.S. Energy Information Administration (EIA) data. Despite this, the solar industry in the "Prairie State" is booming, driven by the affordability and effectiveness of solar installations. With various incentives and rebates available, investing in solar energy through SunnyRate is a smart and cost-effective decision for Illinois homeowners.

Illinois Solar Incentives, Rebates, and Benefits

Illinois Renewable Portfolio Standards (RPS)

Illinois' Renewable Portfolio Standards (RPS) are among the most ambitious in the nation, requiring utility companies to source a specific percentage of electricity from renewable resources. By 2025, 25% of the state's energy must come from renewable sources, with 75% of that from wind power and 6% from solar systems. Utility companies face hefty fines if they fail to meet these standards, leading them to offer significant solar incentives for homeowners through SunnyRate.

Illinois RPS Solar Carve-Out

The solar carve-out is a crucial component of Illinois' RPS, mandating that 1.5% of the state's energy must come from solar power by 2025. This carve-out is designed to drive down the costs of solar technology, making it more accessible for homeowners and providing additional incentives for going solar with SunnyRate.

Illinois Net Metering

SunnyRate customers can take advantage of Illinois' robust net metering laws, which allow solar panel owners to offset their electricity costs. When your solar system produces more energy than you use, the excess is sent to the grid, and you receive credits on your power bill. This ensures that you get the most value from your solar investment.

Interconnection Standards in Illinois

Illinois' strict interconnection standards make it easy for homeowners to connect their solar systems to the grid. These standards simplify the process, allowing SunnyRate to provide seamless net metering services to our customers.

Illinois Solar Power Performance-Based Incentives (PBI)

With SunnyRate, you can benefit from Performance-Based Incentives (PBIs) offered by the state. These incentives, known as Power Performance Payments, are based on the actual amount of power your solar system produces. The energy generated is tracked through Solar Renewable Energy Credits (SRECs), which can help offset the costs of your system over time.

Illinois Solar Property Tax Exemption

SunnyRate customers can enjoy the Illinois Solar Property Tax Exemption, meaning that installing solar panels will not increase your property taxes. The added value from your solar installation won't lead to a reassessment of your property's value, so you continue paying taxes based on your home's pre-solar value.

Illinois Solar Rebates

While Illinois doesn't currently offer direct cash rebates for solar systems, SunnyRate offers an outstanding program called "Illinois Shines." This initiative provides lump-sum compensation based on the projected energy output of your solar system, making your investment even more attractive.

Federal Tax Credit

In addition to the state incentives, SunnyRate customers can take advantage of the Federal Solar Investment Tax Credit (ITC), which covers 26% of your solar system's cost. This credit is available to those who purchase their system outright, either with cash or through a loan, making it an excellent reason to choose SunnyRate for your solar needs.

Illinois Solar Incentives and Rebates with SunnyRate: A Summary

Ready to lower your electric bills, protect your home from power outages, and reduce your carbon footprint? SunnyRate can help you navigate Illinois' solar incentives and rebates, ensuring you make the most of your solar investment. Explore your options with SunnyRate today and make the switch to clean, renewable energy.