While it may sound too good to be true, it’s not!
Between the 30% federal tax credit and the SREC incentive, up to 50 to 60% of your solar system or more could be paid for from these two incentives alone. Your payback time is greatly reduced.
Illinois Solar Renewable Energy Credits help the state meet Renewable Portfolio Standards (RPS), which is a regulatory mandate that sets goals for generating a percentage of Illinois’ overall electricity from renewable energy. The Illinois SREC program could potentially cover 20% to 40% of your total solar investment for residential and business applications!
Contact Tick Tock Energy to get a quote today!
The Illinois SREC plus Federal Tax Credit makes solar very appealing. If coming up with the initial capital a challenge, we offer great financing options to eliminate this concern. Don’t delay, enjoy the benefits of generating electricity from the sun!
If you have more questions or would like to see a quote for your home, farm or facility, our experts will be happy to discuss further!
If you’re ready to apply for this beneficial Illinois solar incentive, give us a call or contact us today.
What Are the Key Changes to the SREC Program?
The overall Illinois Shines program address three areas:
- Small Distributed Generation (DG) from 0 to 25 kW (AC)
- Large Distributed Generation (DG) from >25 kW up to 2,000 kW (AC)
- Community Solar
Distributed Generation, or DG for short refers to “behind the meter” solar systems intended to generate electricity for the home or building they are connected to.
The new SREC program continues to use the Adjustable Block format and the SREC price is set by block. In most cases, the old SREC incentive exhausted blocks 1, 2, 3 and 4. The price drop between blocks is 4%. The new SREC incentive will start at Block 5 or 4% lower than the last block.
Community Solar are typically large systems from a minimum size of 500 kW up to 2 MW (AC) that feed into the grid and generating power for subscribers. See our Community Solar page for more info. For size comparison, a 1,000 kW, or 1 MegaWatt (MW) community solar plant would require around 3 to 5 acres and 2 MW potentially up to 10 acres.