What incentives are available?

Federal and local governments have tax credits available to offset the cost of solar installation.

In August 2022, Congress passed the extension of the ITC or Investment Tax Credit. What this means is that the Federal government offers a solar tax credit that can help you recoup up to 30% of the cost of installing a solar power system. With the recent signing of the Inflation Reduction Act of 2022, not only will the credit still be available, but it has been increased to a 30% credit effective until at least 2032. Read more about it here:

https://www.energy.gov/eere/solar/homeowners-guide-federal-tax-credit-solar-photovoltaics

State of Illinois solar incentives and how it works:

• Illinois Shines – Building Our Solar Future

  
  Disclaimer: This guide provides an overview of the federal investment tax credit for residential solar photovoltaics (PV). We do not claim to provide professional tax advice or other professional financial guidance and this information may change based on additional guidance from the Treasury Department. Please see their published Fact Sheet

Solar incentives change frequently depending on which state you reside in. The most significant incentive is the federal investment tax credit (ITC), which allows you to deduct a percentage of the cost of your solar energy system from your taxes, based on eligibility. Some states offer additional tax credits, and utilities may also offer cash rebates or other incentives.