Solar incentives and tax credits are available and offered at the federal, state and local level. However, these offerings vary based on your location and whether you are a homeowner, business, government entity, or non-profit.
*Consult with your tax professional to learn more about how you can take advantage of tax credits and incentives.
Inflation Reduction Act Federal Tax Credit:*
Incentives for Illinois:*
- Inflation Reduction Act Federal Tax Credit (30% of gross cost at installation – includes batteries with at least 3 kilowatt-hours (kWh) of capacity)
NOTE: Additional tax credits may be available as identified in the SEIA Solar Energy and Energy Storage Provisions Summary for Investment Tax Credits (ITC) and/or Production Tax Credits (PTC)
- U.S. Department of Agriculture Rural Energy for America Program (REAP) for agricultural producers and rural small businesses
- Modified Accelerated Cost Recovery System (MACRS Depreciation)
- Solar Renewable Energy Credits (SRECS) Adjustable Block Program
*(Eligibility in the Adjustable Block Program requires working with an approved Solar vendor. Eagle Point Solar has completed the vetting process and our Solar Energy Consultants are certified by the Adjustable Block Program’s administration. Eagle Point Solar is able to facilitate your ABP payout and professionally install your array system.)
- A solar array in Illinois will not increase your property tax liability
- Illinois Power Agency
Incentives for Wisconsin:*
Battery Storage Incentives:*
- Stand-alone energy storage also becomes eligible for the Inflation Reduction Act Federal Tax Credit for batteries with at least 3 kilowatt-hours (kWh) of capacity. The stand-alone battery credit only applies to expenditures made after December 31, 2022. Stand-alone storage is eligible only for the Investment Tax Credit (ITC) and not eligible for the Production Tax Credit (PTC).
NOTE: Additional tax credits may be available as identified in the SEIA Solar Energy and Energy Storage Provisions Summary.
*Consult with your tax professional to learn more about how you can take advantage of tax credits and incentives.