Homeowners and businesses can reduce their system cost by 20% with Solar Renewable Energy Credits (SRECS). These cash payments are paid quarterly over 5 years and are akin to a rebate. The amount paid is based on net metered production of the solar system.
*Churches and schools in Illinois can save significant funds with Power Purchase Agreements (PPA).
Collectively known as “third-party ownership,” solar PPAs are a great way to start generating clean energy without up-front capital investment. PPAs lock in lower solar rates and reduce utility expenses for non profit organizations.
Property Assessed Clean Energy (PACE) is a unique financing option which allows residential and commercial building owners to shift the cost of going solar to their property taxes over a 20 year span. Legislation is under consideration in Illinois this session and if passed into law PACE could be available in Illinois in the near future.
Federal tax incentives now available include:
- 30% tax credits off the total system cost (available for residential and businesses)
- Rapid depreciation (MACRS) for businesses only
StraightUp Solar has helped homeowners and businesses Go Solar for over a decade. We are 1,000 projects strong and have experience navigating all available incentives. Contact a solar genius today and take the first step.