ILLINOIS
The Ultimate Solar Savings Destination!
It’s no surprise that Illinois is committed to reducing carbon emissions and tackling climate change, but many businesses are unaware of how extensive the state’s solar incentives truly are. Solar One, with its vast experience and deep understanding of Illinois’ unique incentives, helps businesses take full advantage of opportunities created by the Future Energy Jobs Act (FEJA) and the Climate and Equitable Jobs Act (CEJA). Thanks to these groundbreaking policies and an unmatched combination of state, federal, and local utility incentives, Solar One is helping qualified Illinois businesses enjoy fully subsidized, large-scale onsite solar installations—driving both sustainability and savings..
POTENTIALLY COVER 50% OF THE TOTAL COST
Businesses nationwide can take advantage of the Federal Solar Tax Credit, which covers 30% of the cost of a solar project, regardless of location. On top of that, a large portion of Illinois qualifies for the Energy Community Tax Credit Bonus adding another 10% for projects situated in designated energy communities— areas affected by the decline of fossil fuel industries. Additionally, projects that meet the criteria for domestic content, meaning they use materials made in the U.S., receive an extra 10% credit. Combined, these incentives can cover 50% of the total cost, making solar installations more affordable than ever.
80% DEPRECIATION IN FIRST YEAR
State and federal tax depreciation provides a powerful tool for funding solar projects by allowing businesses to recover the cost of their investment over time. Under the federal Modified Accelerated Cost Recovery System (MACRS), businesses can depreciate their solar installation over five years, significantly reducing taxable income. Additionally, the Federal Bonus Depreciation program allows businesses to deduct 80% of the project’s cost in the first year, further accelerating tax savings. Illinois also offer similar depreciation benefits, making the combined state and federal tax depreciation a valuable way to offset the initial costs of a solar project and improve the overall return on investment.
OVER $200K IN SAVINGS
Business customers of Commonwealth Edison (ComEd) and Ameren Illinois are eligible for a generous rebate of $250 per kilowatt (kWdc) of installed solar capacity when using smart inverters. This means that a business installing a large rooftop solar system of 1 MWDC (1,000 kWdc) with Solar One would qualify for a $250,000 rebate once the project is complete. The rebate is available for any commercial system under 2 MWAC of installed capacity, making it a substantial incentive for businesses looking to invest in solar and reduce upfront costs.
SELL UNUSED CREDITS
In Illinois, each time a solar system generates one megawatt-hour (MWh) of electricity, it earns one Solar Renewable Energy Credit (SREC). Solar owners can sell these credits to utilities or other buyers who need them to meet state renewable energy requirements. The Illinois Shines program offers a stable price for SRECs, making solar projects more profitable. This system helps reduce the cost of solar installations and encourages more businesses and homeowners to go solar.
Imagine your business installing a cutting-edge solar system and actually getting paid for it—thanks to the incredible solar subsidies and incentives available in Illinois. With a combination of generous federal tax credits, state and local rebates, and valuable Solar Renewable Energy Credits (SRECs), you could end up receiving more in financial benefits than the total cost of your installation. This means you’re not just reducing your upfront costs, but potentially making a profit while slashing your energy bills for years to come. The power of these incentives can transform your solar investment into a highly profitable venture, all while driving significant savings on your energy expenses.
This is an extraordinary opportunity that’s uniquely available in Illinois, but it won’t last forever. The incentives are evolving, and the time to act is now. Don’t let this chance slip away—contact Solar One today to leverage our expertise and secure these exceptional benefits for your business. Act quickly to maximize your savings and make a lasting impact on your energy future!
The Relentless Pursuit of Precision in Every Opportunity