30% Federal Investment Tax Credit
Companies can receive 30% of the complete system cost back as a credit against their total tax liability for that year. The recently passed budget bill sunsets the commercial solar tax credit on December 31, 2027. However, if you start construction on a solar project prior to July 4, 2026 you could have four years to complete the project and claim the credit. StraightUp Solar’s commercial project developers can explain how the tax credit applies to your project.
Non-profit organizations can take advantage of the Federal Investment Tax Credit through Direct Pay. This feature of the tax credit allows non-tax-paying entities to receive the full value of the tax credit by making the 30% refundable. Learn more here! You may also be eligible for additional tax incentives if your business resides within low-income or former coal communities.
*Note: We are not tax professionals, please consult with your tax advisor about how this credit can work for your business.
Note: We are not tax professionals, please consult with your tax advisor about how this credit can work for your business.
Your company could recoup roughly 12-25% of the original system price through this incentive.
With Illinois Solar Renewable Energy Credits, you could recover 30-35% of the original solar system cost with cash payments upfront or over seven years, depending on system size.
Learn more about how SRECs work.
A $250/kW (direct current) smart inverter rebate is available for large commercial, industrial, and nonprofit systems within Ameren Illinois and ComEd utility territories.
Find out the requirements for this rebate.
Illinois Solar For All (ILSFA) is a state program that benefits income-eligible and environmental justice communities in Illinois. The State of Illinois offers this program to meet its renewable energy goals and to bring the expansion of solar energy to income-eligible communities. With state and utility funding, Illinois Solar For All pays incentives to solar companies and passes the savings onto income-eligible households, non-profit organizations and public facilities.
Learn about program eligibility.