With utility rate increases in Illinois, going solar is a great way to lower your energy bill and lock in your energy costs. Here we can answer your questions on costs and savings of solar energy, available incentives and financial options. Take advantage of Illinois solar incentives and get a free quote from our residential solar installers today!

Incentives & Financing Make Solar Affordable

With the cost of solar panels and solar energy technology steadily decreasing over the years, going solar has never been more affordable—and that’s on top of immediate energy bill savings and  incentives that can significantly reduce your project costs by up to 65%. Though some homeowners prefer to pay cash in full, not everyone can pay upfront for a home energy system. Fortunately, there are several Illinois solar incentives & financing options available to homeowners such as solar loans.

Save up to 65% with
Illinois Solar Incentives

Discover Illinois solar incentives to help make solar more affordable for you.

Federal Incentives

30% Federal Tax Credit

In August 2022, the Inflation Reduction Act became law. In it are provisions to support solar growth by increasing and extending this federal tax incentive for 10 years! Receive 30% of the full system cost back as a credit against your total tax liability for the year your system was installed. This tax credit is 30% for systems ‘placed in service’ between January 1, 2022 and December 31, 2032.

The tax credit is non-refundable and requires that you have the tax appetite to be eligible. It can be carried over for 1 year. The home must be owned by the taxpayer but they don’t have to be the resident. For example, this can work if you rent your home or if you have a vacation home. Consult your tax professional to find out how this credit can work best for you.

Illinois Solar Incentives

Solar Renewable Energy Credits (SRECs)

Recover 20-30% of the original solar system cost with cash payments upfront or over 5 years, depending on system size, from the Illinois Power Agency. Solar Renewable Energy Credits are based on the production of your solar PV system. Click here to learn more.

Most Common
Solar Financing Options

Comparing Your Illinois Solar Incentives

Here are some final notes on the different solar financing options available to Illinois homeowners:

Tax incentives – With a solar loan, unlike with solar leasing, you own the solar panel system outright and you may be able to take advantage of tax incentives.

Maintenance and repairs – With a loan, you own the solar panel system and you will have to pay for maintenance and repairs yourself. With a lease, SunPower (StraightUp Solar’s leasing partner in Illinois) will be responsible for the maintenance and monitoring of the system and costs won’t fall on you.

Long-term savings – When you purchase a solar energy system through a solar loan, the system will eventually be paid off. After that point, you are generating free electricity for your home without having to make monthly payments, giving you greater long-term savings than systems covered by solar leases.

Selling your home – If you want to sell your home, solar leases can be passed onto the home’s next owner.

How Much Does Solar Cost?

Our Project Developers customize pricing for each solar array construction based on three elements:

  • Modules, inverters, batteries, and other system components you may prefer
  • Layout of the array, and whether it is a ground-mounted or roof-mounted system
  • The electrical alterations needed for the home to integrate solar

The good news is the cost of going solar has come down 80% in the last decade, and it is affordable for the average working family.

Projects typically require little money down with financing, or range from $20,000-$60,000 before incentives.

We can estimate your pricing, including incentives and energy bill savings, with some information about your home and electric bill. Reach out for an estimate to get started.

Is My Home Good for Solar?

Our handy two-minute quiz asks a series of questions to help you determine whether your home is a good fit for solar. Everyone’s situation is different, and we appreciate the opportunity to learn about your unique interest in solar!

Go Solar with StraightUp Solar

It’s important to research all available solar financing options and get quotes to compare interest rates and fees. Taking out a solar loan can give you the best savings in the long term and you can take advantage of solar incentives and rebates. What you choose to value the most is, of course, up to you! As always, the solar experts at StraightUp Solar can answer any questions you may have and provide you with all of the information you need to make an educated decision about going solar. Contact our residential solar installers about Illinois solar incentives and get started today!

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