Residential Incentives Explained

Federal Investment Tax Credit (ITC)

Purchasers of a new solar energy system get a tax credit of 30% of the cost of the system.  This is money the homeowner would have paid to the IRS in taxes. It can be spread out over 5 years. To secure this credit rate, your system will need to be placed in service before the end of 2032. In 2033, the rate will lower to 26%, and then lower gain to 22% for 2034.

Solar Renewable Energy Certificates (SRECS)

SRECS are the commodity value of solar energy generated.  The calculation is based off of the energy produced over 15 years.  The value of each certificate varies based on the size of the system and total certificates in the market.  We do the application and sale of certificates for you. These are checks that you get over 1 to 5 years depending on system size. The value of each SREC is set by the Illinois Power Agency.  The amount you are quoted could be different from what you get. There can be a delay in getting SREC money if the years allocation is used, you will have to apply next year.  It is to your benefit to sign a contract early so we can immediately apply for your SREC.