Financing Your Project
Federal Tax Credit
- Consider the amount of electricity or hot water you want to generate from solar - 100%, 75%, 50% of your annual usage.
- The average installed cost of a solar electric “PV” system is $5.50/watt or $5,500/kilowatt (kW)
- Two solar thermal collectors is the average size of a domestic hot water system for a 4 person household
Federal tax credits are 30% of system costs of the total system cost after incentives (e.g. Energy Trust) which are paid directly to the contractor. These tax credits can be taken in the year the system is operational or can be carried forward if the credits exceed tax liability. There is no pass through option for federal tax credit
Illinois State Rebate
Soon to be announced - sign up for ISEA newsletter for up to date info here.
Visit www.DSIREUSA.org for all State, Local, and Utility incentives
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