If we define viability as a return on investment set around 10 years followed by energy independence for the rest of the life of the system.
Viability of solar panels illinois.
The illinois solar energy association isea is a non profit organization that promotes the widespread application of solar and other forms of renewable energy through education and advocacy.
Another calculation that potential solar buyers have to consider is the solar payback period.
At a project cost of around 4 200 kw you will be way below the cap.
Ameren illinois customers can benefit from solar energy without having to install solar panels or renewable generation equipment on their own homes or businesses.
Isea is the state resource for renewable energy related policy developments educational classes events and access to local renewable energy vendors.
The most significant incentive to install solar panels for homes and businesses is the federal solar tax credit.
Solar incentives rebates and tax credits available in illinois in 2020.
At the end of 2020 the amount of the credit will decrease from 26 to 22 of the cost of the solar installation.
Whatever one is the lesser of the two 99 8 of the time this will be your existing heating or cooling system is what is used to compute your property taxes.
Whenever you install a solar pv system private electric utilities will give you back 25 of the project cost.
While the power that solar panels generate is emission free it is important to note that there is some pollution associated with the manufacturing of solar panels.
For illinois the average solar payback period is 9 31 years.
Because home and business owners want to get the largest incentive amount possible solar panel installation companies will likely be flooded with new projects before year s end.
This term tells us as at what time you will recover your initial investment through electricity savings from your solar system.
Incentives up to 50 off your entire solar energy installation.
The rebate is capped at 1 500 per kilowatt but don t worry.
The future energy jobs act set a goal for illinois to get 25 percent of its electricity from renewable sources such as wind farms solar farms and rooftop solar panels by 2025.
Does solar make sense in illinois.
Solar panel manufacturing has some environmental impact.
When installing solar in illinois any reputable installer will alert you to alternative valuation of energy systems on your property.
Some solar panels contain harmful pollutants like sulfur hexafluoride which is more potent than carbon dioxide.
You compare the value of any applicable heating or cooling system already on your property to the value of your new solar energy system.
