Is Solar Energy in Illinois a Good Investment for You?
Aggressive financial incentives are making solar power a very real possibility for businesses and homes in Illinois. In fact, more people than ever before are investing in solar energy for purely financial reasons.
In addition to the federal tax credit of 30% for solar energy projects, there are other factors and incentives that make solar power achievable in Illinois without breaking the bank – even for organizations and institutions that are tax exempt, such as schools and churches.
Solar Renewable Energy in Illinois Credits
As part of its Renewable Portfolio Standards (RPS), Illinois mandates that 25% of the state’s electricity will be generated from renewable resources by 2025. Specifically, 1.5% of this electricity needs to be met by solar energy by 2025. To make this happen, Illinois is rewarding homeowners and business owners that help it reach the target. For each megawatt-hour of electricity produced by your solar system, you are granted a solar renewable energy credit (SREC) to sell to utilities. This sale will go through an approved third-party vendor program. See if you qualify »
Electricity Distribution Tax
By including an EDT (electricity distribution tax) on every kilowatt-hour sold, the state was able to build funds for the development of the Future Energy Jobs Act. In April 2017, a bill was passed so that these dollars could be used to accelerate the growth of renewable energy.
Additional funds to support solar energy in Illinois are also coming as a result of two nuclear plants nearing the end of their useful lives. Once these plants no longer need to be maintained, those funds will instead be used to further accelerate solar energy across Illinois.
Making the Solar Energy Decision
Because of these credits and incentives – and the many other benefits of solar energy in Illinois – our industry connections and customers began to quickly develop an interest in solar power.
Logically, they started coming to Van Meter to ask straightforward questions about whether or not solar power would be financially beneficial for them. As a trusted advisor for electrical, datacomm, lighting, and other power-related projects, it was a natural progression for our customers to trust us on solar projects, too.
So is solar energy in Illinois a good investment for you? There isn’t a blanket response to this question, which can make it seem like an overwhelming decision to make. That’s where Van Meter comes in. We understand the ins and outs of solar energy in Illinois, as well as available incentives and how they complement federal tax credits.
We’ve worked with customers in industrial, institutional, commercial, government, and agricultural environments to get their solar projects off the ground. They each have their nuances, from how financial incentives impact them to installation best practices.
Solar in Illinois is a great investment for some organizations and isn’t the right investment for others. Before you decide if solar power is a good investment for you, it’s important to get a realistic look at your specific return on investment based on your business and location.
Our goal is to first provide education to help you make the best decision possible for your business. You’ll be armed with information, so you can quickly spot someone who’s pushing the idea of solar energy without really understanding the entire story. We’ll walk you through the process and answer your questions until you’re comfortable in confidently answering the question: “Is solar energy in Illinois a good investment?”
Then, if you determine that solar is a viable option, we help you calculate an accurate, realistic, and conservative ROI that takes all factors into account.
If solar power is a path you want to pursue, we can help you make decisions about:
- Types of materials
- Proper location and orientation
- The installer you choose (we work with a highly vetted group of professional installers that we’re happy to recommend)
- How necessary paperwork will be completed and filed for rebates/incentives
We’re here for you, no matter what your decision. If it’s determined that solar energy isn’t the right investment for you – great! You’ve saved a lot of time, money, and resources by figuring this out, and you can move on to another important business initiative.
If solar power turns out to be beneficial for your organization, that’s great news, too. We can help you make it happen.
“Van Meter is able to source every aspect of a solar project. To be able to turnkey the entire project under one roof is pretty ideal – and pretty unique. They go above and beyond, even as detailed as making sure product is placed right where we need it so it doesn’t have to be moved twice.”
–Mike Mohrfeld, Mohrfeld Electric
“Van Meter understands the entire solar installation industry and has the ability to truly add value to the process. They are committed, and have invested in training their staff.”
–Jim Pullen, Eagle Point Solar
“We installed nearly 150 solar projects in 2017, and Van Meter was involved in nearly all of them. We’ve had quite a few cases where our schedule changed because of customer requests, weather issues, and many other things beyond our control. Van Meter always adapts to accommodate us – with very short notice. They come through every time.”
–Jim Pullen, Eagle Point Solar
“We were new to solar, and the education they provided on the front end was outstanding. From the start of the job to the finish of the job, Van Meter is there – every step of the way. Van Meter gave us the confidence in our solar projects, and held our hands to get us started. They offer a much deeper relationship than anyone else can or will provide.”
–Jake Rabe, Rabe Hardware
Article by Chad Wiltz, Van Meter Inc., Energy Services & Solutions Manager