FINANCIAL INCENTIVES

Illinois Shines Program

  • This program was established by the Future Energy Jobs Act and managed by the Illinois Power Agency to support and encourage solar growth in Illinois.  This program is aimed at returning a portion of the investment cost to the customer to incentivize the switch to solar.  Illinois Shines is funded by current utility customers across the state, let us show you.  Source Article from Illinois Power Agency

26% Federal Investment Tax Credit 

  • This Investment Tax Credit (ITC) is currently offering 26% of the initial investment cost returned to the customer as a tax credit. This tax credit will remain at 26% for 2022, then dwindle down to 22% the following year. This can be combined with the Illinois Shines Program for Illinois businesses and residents.  Source Article from SEIA

MACRS Depreciation for Businesses

  • The Modified Accelerated Cost Recovery System (MACRS) is a method of depreciation in which a business will receive a percentage of the initial investment cost of tangible property (solar panels) through annual deductions.  Tell us more about your business and we will tell you how much depreciation you qualify for. 
  •  Source Article from SEIA

Property Tax - Illinois

  •  Illinois offers a special property tax assessment for solar. The alternative valuation will be the lesser of two values: the value of a conventional heating and cooling system, or the value of the solar energy system, whichever is less. If you wish to have your property valued this way you should file a PTAX-330 Property Tax Form with your local County Assessor's Office.  Source Illinois

Property Tax - Missouri

  • Missouri's property tax exemption for solar states that solar energy systems not held for resale are exempt from all state, local, and county property taxes. Source Energy.Gov