What Solar Incentives & Tax Credits Are Available?
Take advantage of great incentives and put the power back in your hands today! Federal tax credits combined with other incentives can cover a substantial portion of your solar system installation cost.
What is available in the Stateline area?
Federal tax credits are available in all states and help cover the cost of your solar system installation.
Other incentives vary by state. We stay up-to-date and will explain what’s available for you. Read below for programs in Illinois and Wisconsin.
You don’t have to navigate this process by yourself. Our sales team knows the current incentives, rebates and promotions and will help you get the best pricing available. We pride ourselves on being the most knowledgeable and informed in the solar market.
What Is the Federal Tax Credit for Solar?
The Federal Tax Credit (ITC) currently covers 30% of your system cost. The Federal Tax Credit was enacted by the federal government in 2006 and has been adjusted several times.
- The most recent update came in August 2022 with the passing of the Inflation Reduction Act
- This increased the credit to 30% through 2032
- It extended the the Federal Tax Credit all the way through 2034, with a stepped-down rate the last two years
We’ve written more about the Federal Tax Credit (ITC) in a blog post on this site.
ILLINOIS Solar Incentives
How do SRECs work?
SRECs are Solar Renewable Energy Credits. With programs in only a handful of states, the Solar Renewable Energy Credit program was created to encourage renewable energy in Illinois. You get financial credit for producing clean energy. This credit helps cover the cost of your solar installation.
The IL program, called the IL Adjustable Block Program (also known as Illinois Shines), is administered by the Illinois Power Agency. The IL Adjustable Block Program will provide an amount to you based on the projected amount of energy your solar system is estimated to produce for 15 years.
The amount of money you are able to receive is based off of the amount of Solar Renewable Energy Credits (SRECs) your system will produce and the current price per SREC that is available for your system size at the time of your application being submitted to the state for review.
Since this program is always changing, the best way to determine your savings with SRECs is to request a free solar quote & consultation from Iconic Energy. We’ll answer all your questions.Request Your Free Solar Quote
WISCONSIN Solar Incentives
Are Solar Incentives Available in Wisconsin?
The Wisconsin program, called Focus on Energy, provides set incentive amounts based on the size of your solar panel system, your location in the state of WI, and if you are a homeowner, business, agricultural producer, government entity, or non-profit.
The best way to determine your savings with both federal tax credits and incentives combined is to request a free solar quote & consultation from Iconic Energy. We’ll answer all your questions.Request Your Free Solar Quote