Illinois businesses and solar communities interested in investing in solar power might be overlooking an incentive that could save them a lot of money.
As Illinois makes a strong push to get more energy from renewable sources, the state has rolled out several incentives to move its energy portfolio towards solar and wind resources. These incentives include a rebate when purchasing smart inverters for your solar panel installation.
Here are the important aspects of the Illinois Smart Inverter Rebate you should know about:
- Eligibility: MidAmerican, Ameren, and ComEd non-residential and community solar projects up to 2 MW (AC) installed after Jan. 1, 2017
- Rebate: $250 per kW of project’s direct current capacity
- What is a Smart Inverter?: Smart inverters have greater capabilities than previous inverters, such as active control of voltage and frequency, as well as the ability to communicate with utility.
- Requirements: Customers must enroll under a net metering tariff that only provides net metering credits for the generation portion of a customer’s utility bill. As well, the meter must be able to communicate with the utility.
- Eligible Smart Inverters: As per Future Energy Jobs Act: Section 16-107.6(a) “Smart inverter means a device that converts direct current into alternating current and can autonomously contribute to grid support during excursions from normal operating voltage and frequency conditions by providing each of the following: dynamic reactive and real power support, voltage and frequency ride-through, ramp rate controls, communication systems with ability to accept external commands, and other functions from the electric utility.”
Now is the time to act and take full advantage of the Illinois Smart Inverter Rebate, as well as other state and federal incentives. For more information, contact us here.