Commercial Incentives

Making the solar switch saves your business money on your energy bills and designates you as an environmental leader.  The combination of rising utility costs, dramatically decreased solar costs, and a 30% federal tax credit combined with rapid depreciation makes solar an option for leading businesses in our region.

Savings:  Depreciation + 30% Fed Tax Credit  = Approximately  50% savings!


Rapid Depreciation – Over Five Years

* Learn more: Modified Accelerated Cost-Recovery System (MACRS)


Federal

30% Federal tax credit:

  • 30% of Photovoltaic (Solar Electric) System

* Learn more: Federal Renewable Energy Tax Credit

* EPA website on How to File for the Federal Tax Credit solar energy systems.

 

USDA Rural Energy for America Grant and Guaranteed Loan Program (USDA REAP)

  • Agricultural Producers & Rural Small Businesses
  • Up to 25% Grant, 75% Guaranteed Loans are Available
  • Qualifying Renewable Energy & Renewable Energy Projects

*Learn more: USDA REAP


Illinois

Solar Renewable Energy Credit (SREC) Program:

  • Each SREC is equivalent to 1 MWh; Calculations of SRECs for each system are based on estimated annual production factor of 14.38%
  • SRECs are able to enter into 5-year contracts based on their project bid amount

For example, a 10 kW system will be eligible to bid 63 SRECs in the program using this formula:

10 kW / 1000 kW * 14.38% * 8760 * 5 yrs = 63 SRECs

* Other eligibility requirements apply to this program
* Learn more at 

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