Your payback time is greatly reduced. As such, it makes sense to try to shift your billing year to end just after your highest consumption months. Above, weve discussed all of the incentives available to Illinois property owners. Homeowners get one SREC for. The document titled "2022 Long-Term Renewable Resources Procurement Plan" below provides information pertaining to the Renewable Energy Credit (REC) program. Designee: Third-party (i.e., non-Approved Vendor) entities that have direct interaction with end-use customers. Please turn on JavaScript and try again. Visit energyequity.illinois.gov to learn more. Browse approved vendors here. Net energy metering makes it far more likely for residents to offset their utility bills entirely, helping to maximize their energy savings and reduce the amount of time it takes to pay off their equipment. The DG Project Developer must utilize an installer for the project who is certified by the Illinois Commerce Commission (ICC). Solar Incentives & Rebates | ComEd - An Exelon Company No, there are currently no plans for incentives to become less beneficial in Illinois in the next two years. It does not appear on display pages. Alternatively, if you want to start out your process with an estimate of costs and savings associated with solar, try out our Solar Calculator. It helps pay off your system more quickly and maximizes your long-term energy savings. This incentive can net you several hundred dollars each year, seriously reducing your solar payback period. The kind of credits you get each month for surplus energy depends on the price you pay for energy from ComEd and whether you received the utilitys commercial distributed generation rebate (not currently available for residential arrays). In other words, every time a MWh is produced by a solar array, another SREC comes into existence. Enter your zip code to see solar quotes near you. The state has a local SREC market where your credits can be sold. Illinois Solar Incentives & Tax Credits for 2023 - LeafScore This program allows you to make full use of your own solar energy system, giving you more control over your energy costs. In Illinois, the credit averages out to $6,143. All utility companies in Illinois are required to participate, including Ameren and ComEd. If you buy electricity from a Retail Electric Supplier (e.g., through municipal aggregation or an individual contract), you must contact the supplier to enroll in net metering.