Illinois Solar Incentives

Solar Savings

Solar Renewable Energy Credits (SRECs)

Transform your solar investment into significant savings through Illinois' SREC program. When you install a solar system with CH Electrical, you can receive substantial upfront or long-term payments that typically cover 20-35% of your total system cost. These payments are administered through the Illinois Power Agency and are calculated based on your system's solar energy production.

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Understanding Solar Renewable Energy

What are SRECs?

Solar Renewable Energy Credits (SRECs) represent the environmental benefits of solar energy production. When your solar panels generate electricity, they create two distinct products: The actual electricity that powers your home The environmental benefits of producing clean energy Each SREC represents the environmental benefit of generating 1,000 kilowatt-hours (kWh) of solar electricity. For example, if your system generates 9,000 kWh in one year, you'll have 9 SRECs to sell.

Program Goals

The Illinois Power Agency (IPA) manages the state's SREC program as part of Illinois' commitment to reaching 40% renewable energy by 2030. This initiative is part of the state's Renewable Portfolio Standard (RPS), which requires utilities to source an increasing percentage of their power from renewable sources.

How the Program Works

For Systems Under 25kW (typical residential installations):
• Receive a single upfront payment
• Payment covers all expected SRECs for the first 15 years
•No need to wait for annual payments

For Systems Over 25kW (larger installations):
Payments distributed evenly over 7 years
Based on projected system production

Payment Process

CH Electrical works with an Approved Vendor to register your system
You sign an SREC contract specifying:

• Maximum number of SRECs to be purchased
• Price per SREC
• Payment terms and conditions

The Approved Vendor handles all paperwork and program requirements
You receive payment according to your system size (upfront or over time)

Important Notes

It's essential to understand that SRECs are entirely separate from your electricity savings. The program is exclusively available for system owners and is not offered with Power Purchase Agreements. SREC values are set in blocks of decreasing value, which means earlier participation typically results in better rates. After selling your SRECs, you're technically "producing green energy on behalf of the State of Illinois."

Maximizing Your SREC Benefits

CH Electrical takes care of the entire SREC process on your behalf. We manage system registration, documentation, contract preparation, and payment processing. Our team ensures you receive the maximum value for your solar investment while maintaining full compliance with all program requirements.

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Illinois Rebate Program

Smart Inverter Rebate Program

Illinois residents serviced by major utilities like Ameren Illinois and ComEd can now benefit from significant savings through the Smart Inverter Rebate program. This innovative incentive offers:
$300 rebate per kilowatt (kW) of installed solar capacity
Available for both residential and commercial installations
Direct reduction in your solar system cost

Federal Incevtives

Federal Tax Credit - Save 30%

Thanks to the Inflation Reduction Act of 2022, homeowners can claim a substantial 30% federal tax credit on their solar installation costs. This significant incentive:

• Applies to systems installed between January 1, 2022 and December 31, 2032
• Covers 30% of your total solar system cost
• Can be carried forward for one year if you can't use the full credit immediately
• Applies to both primary residences and secondary homes
• Available for rental properties owned by the taxpayer
Important: The federal tax credit is non-refundable and requires sufficient tax liability. We recommend consulting with your tax professional to understand how this credit can best benefit your specific situation.

Ready to Learn More?

Contact CH Electrical today for a custom assessment of your property's solar potential and SREC earning capability. Our experts will estimate your system's SREC production, calculate potential SREC payments, explain current rates and availability, and guide you through the entire process from start to finish.

*Note: Incentive amounts and availability are subject to change. Contact CH Electrical for the most current information and to verify your eligibility.