Illinois offers significant renewable energy financial incentives to install a solar system.
Businesses are realizing they can now generate electricity on-site from the sun at a cost below utility rates. In fact, the Illinois Power Authority (IPA) is now paying cash for solar energy.
Illinois recently passed legislation that instructed the Illinois Power Authority (IPA) to buy Solar Renewable Energy Certificates (SRECs) from solar facilities to satisfy the state-mandated Renewable Portfolio Standard.
This means the IPA will pay you cash to solarize your business!
The cash payments will cover approximately 15% of the total solar system cost. In addition, the federal government offers a 30% tax credit and accelerated depreciation for solar investments.
By combining the current incentives the cost of solar can be reduced by 65%. Given solar prices have come down 80% in the past 8 years, this means the return on investment to go solar has never been better.
Contact SunPeak to learn more.