2024 Solar Incentives Guide for Caseyville, IL - Tax Credits & Rebates

In this guide, we'll cover the latest solar incentives and rebates available in Caseyville.

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2024 and beyond)
  • Ways to optimize your solar investment

Solar installers are experts in maximizing your solar tax credits and rebates.
Get a free quote from one of our trusted Caseyville solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated June 24, 2024

Why you can trust EcoWatch

We work with a panel of solar experts to create unbiased reviews that empower you to make the right choice for your home. No other site has covered renewables as long as us, which means we have more data and insider information than other sites. Our rankings are never affected by revenue or partnerships.

What Solar Tax Credits, Incentives, and Rebates are Available in Caseyville?

Special Assessment for Solar Energy Systems

Incentive Type:
Property Tax Incentive

Solar Renewable Energy Credits

Incentive Type:
Solar Renewable Energy Credit Program
Negotiated with procurement administrators

Federal Residential Renewable Energy Tax Credit

Incentive Type:
Personal Tax Credit
30% federal tax credit for systems placed in service after 12/31/2021 and before 01/01/2033. Good for: solar water heat, solar photovoltaics, biomass, geothermal heat pumps, wind (small), fuel cells using renewable fuels.

Source: https://www.dsireusa.org/


Solar incentives mitigate the cost of installing solar panels on your home. This category of financial incentives is in place to encourage more people to switch their home over to renewable energy. You might be eligible for several types of incentives, including discounts, cash back or monthly utility bill credits, depending on your situation. Some incentives come from your specific utility company, county or municipality, some from the state of Illinois and others from the federal government. Some solar incentives you might qualify for are:

  • Rebates: Solar rebates may be offered by your local utility company, or by your county or state. These rebates are essentially cash back that is applied after you pay for a solar system and before tax credits are calculated.
  • Solar Renewable Energy Certificate (SREC): SRECs are credits that can be sold to your utility company (or other buyers) for money that typically becomes part of your taxable income. In most cases, a certain (small) threshold of energy production must be met before your solar system qualifies for SRECs or other performance-based incentives. SRECs and similar incentives are generally handled by your state government.
  • Net Metering: Net metering factors in once your solar system is up and running. If you've signed a net metering agreement with your Caseyville utility company, it will subtract the value of the excess energy produced by your solar system from your monthly utility bill. In some places, this is a dollar-for-dollar credit, while in other places you might make back a percentage of the value.
  • Tax Exemptions: Sales tax exemptions are applied at the point of sale for your solar system. Property tax exemptions let you ignore the added value of your solar system when you're calculating the amount of property tax you need to pay on your house.
  • Tax Credits: Different from tax deductions, tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government.

Best Solar Financing

Blue Raven Solar

★★★★★
4.5
  • Industry-leading in-house financing
  • Competitive pricing
  • Excellent reputation
  • Doesn't offer solar batteries

Best for Leasing

Sunrun

★★★★★
4.0
  • Expansive service area
  • Many financing options
  • Some reported issues with customer service
  • Some reported issues with door-to-door sales

Best Technology

Tesla Energy

★★★★★
3.2
  • Price-match guarantee
  • Sleek, efficient, and durable solar panels
  • Best solar battery on the market
  • Some reported issues with customer service
  • Customer service varies by local dealer

Federal Solar Incentives

Federal solar incentives are probably the first thing that comes to mind when thinking about solar incentives. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which gives you a credit on your taxes equal to a certain percentage of the cost of your solar system.

The ITC can be applied to solar systems installed after January 1, 2006, on a primary or secondary residence that you own in the United States. Originally, the tax credit was for 30% of the total cost – for panels, accessories, labor and equipment – although the percentage may range from 26-30%, depending on when your solar project was undertaken. There is no cap on the claim amount.

Reaching out to your local Caseyville solar panel installation expert is the best way to understand how the ITC could apply to you.

In August 2022, the ITC (now called the Clean Energy Credit) was expanded and extended by the passage of the Inflation Reduction Act. The Clean Energy Credit is valid until 2035. Solar installation projects started after January 1, 2022, and completed by the end of 2032 may qualify for a 30% tax credit. This amount will be decreased slightly on a yearly basis until the current program ends. The expansion also makes it easier to get credit for energy storage systems, beginning in 2023.

More information about the new Inflation Reduction Act can be found here. The best way to learn more about how the new Clean Energy Credit might apply to you is to reach out to your local Caseyville solar panel installation expert with your questions.

State & Local Solar Incentives

There are often also state solar incentives in addition to those provided by the federal government. Rebates, tax credits and more may be available at a more local level. Incentives may be handled by the state of Illinois, or by your county or municipality. Certain incentives are available for only a limited time, while others are ongoing.

Next Steps for Installing Solar in Caseyville

You can qualify for solar incentives from the Illinois government and the federal government, as well as from your local utility company. Growing availability of solar initiatives over the last 15 years has helped increase solar adoption nationwide. Your local Caseyville solar panel installer can provide you with more details about which incentives you should apply for, and get you started on the path to switching to renewable energy today.

EcoWatch's Caseyville, IL Solar Incentives FAQs

How much can I save on my electric bill annually if I install solar panels on my house in Caseyville?

After adding solar panels to your home in Caseyville, you can expect to save approximately $715.02 per year, or about $13,585.29 over 20 years.

Who installs solar panel systems near me?

To learn about the top solar panel installers near you, take a look at our article on Caseyville's top solar panel companies.

What are some environmental benefits of installing solar panels on my house?

You can reduce your carbon footprint by 500 pounds of CO2 annually by switching to solar panels. This adds up to around 13,000 pounds over 20 years. In addition, solar power is a renewable energy source, which means that switching your home over reduces the drain on our planet's resources.

Can I qualify for incentives both towards the initial cost of solar panels, and later as reimbursement?

The order that incentives will be applied in could vary depending on which incentives you are eligible for but usually yes, you can claim multiple types of incentives for your solar project. Speak to your solar installer or a local tax professional to be sure you are claiming all the incentives you qualify for and applying them in the correct order.

Our goal is to reach as many people as we can with sensible solutions like solar energy. Our team of full-time local researchers collects solar price and installation data for every city in America then compiles it to create these digestible city guides. If you want to read our solar expert's opinion on the top solar companies featured here, follow this link.

Solar incentive research was conducted by Melissa Smith and Karsten Neumeister. Local data analysis was conducted by James Savino. See something we missed or could do better? Email the editor.

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