2023 Solar Incentives Guide for Herrin, IL - Tax Credits & Rebates

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

You'll learn about:

  • Local & State Solar Incentives
  • Federal Tax Credits (Updated for 2023 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 Herrin solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated September 15, 2023

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 Herrin?

Special Assessment for Solar Energy Systems

Incentive Type:
Property Tax Incentive
Varies

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 are intended to make renewable energy usage more affordable through financial incentives for individuals who install solar panels on their homes. Different kinds of incentives, like discounts, cash back or credit towards your monthly utility bill, may be available to you. Certain incentives may be provided via the state of Illinois, by your utility company or by county or municipality, while others are federal. Types of solar incentives might include:

  • Tax Exemptions: These might come in the form of property tax exemptions, which would allow you to exclude the value of your solar system when calculating the taxes you pay on your house. They may also include exemptions on sales tax at the time of purchase.
  • Tax Credits: These credits are dollar-for-dollar reductions (not deductions) in the amount of tax that you owe the government.
  • Rebates: Rebates, or cash back after a purchase, are normally given prior to any solar tax credits being calculated. These rebates can be provided by your local utility company, by your state or by your county.
  • Net Metering: Net metering factors in after your solar panels are up and running. If you've signed a net metering agreement with your Herrin utility company, they will subtract the value of the excess energy your solar system produces from your utility bill each month. In some places, this is a dollar-for-dollar credit, while in other areas you may make back a percentage of the value.
  • Solar Renewable Energy Certificate (SREC): SRECs and similar performance-based incentives might be available to you if you have a solar system that produces more than a specified (usually small) amount of electricity. Performance-based incentives are generally handled at the state level. You can sell any SRECs you have to your utility company or other buyers, and the money you receive in return is normally considered part of your taxable income.

Best National Provider

SunPower

★★★★★
5.0

  • Most efficient panels on the market
  • National coverage
  • Cradle to Cradle sustainability certification
  • Great warranty coverage
  • Expensive
  • Customer service varies by local dealer

Best Solar Financing

Blue Raven Solar

★★★★★
4.5

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

Best Warranty Coverage

ADT Solar

★★★★★
4.0

  • Industry-leading warranty coverage
  • Expansive service area
  • Some reported communication issues
  • No leases or PPAs

Federal Solar Incentives

When people think of solar incentives, federal incentives may be the first thing that comes to mind. The Federal Solar Investment Tax Credit, or ITC, is the most well-known federal solar incentive. The ITC provides a tax credit for a predetermined percentage of your solar system's cost.

The ITC originally covered 30% of the total cost of installing solar panels, and has fluctuated slightly over the last few years between 26-30%. The percentage you qualify for will depend on when your solar system was installed. The total cost of installation includes the panels themselves as well as the cost of equipment, labor and accessories. There is no maximum amount you can claim. The ITC can be applied to solar systems installed after January 1, 2006 on your primary or secondary residence. The residence must be owned by you and in the United States.

Curious how the ITC might apply to your specific situation? Reach out to your local Herrin solar panel installation expert to get more information.

In August 2022, the ITC (now titled the Clean Energy Credit) was expanded and extended by the passing of the Inflation Reduction Act. For solar system installations that begin after January 1, 2022 and are completed by the end of 2032, homeowners can receive a credit for 30% of the total cost. After 2033, the percentage will decrease annually until the Clean Energy Credit ends in 2035. Starting in 2023, it will also be easier to get credits for energy storage systems with the new act.

More information about the new Inflation Reduction Act can be found here. Your local Herrin solar panel installer can answer any questions you have and explain how the new Clean Energy Credit will apply to you.

State & Local Solar Incentives

Tax credits, rebates and more can be provided at multiple levels. In addition to federal solar incentives, there are often state and local ones as well. These incentives may be given out by your county or municipality, or by the Illinois government. Some are available for a limited time, while others are ongoing.

Next Steps for Installing Solar in Herrin

You can apply for and receive solar incentives from the federal government and the Illinois government, as well as from your local utility company. The increased availability of solar initiatives over the last 15 years has helped increase solar adoption nationwide. If you're ready to make the switch to solar energy, talking to your local Herrin solar panel installation expert is an excellent place to start.

EcoWatch's Herrin, IL Solar Incentives FAQs

How much can I save annually on my electric bill if I add solar panels to my house in Herrin?

After adding solar panels to your home in Herrin, you can expect to save about $772.26 per year, or about $14,672.87 over 20 years.

What are the best solar panel installation companies near me?

To find a top-rated solar panel installer, check out our guide to the best solar companies in Herrin.

How long until the federal solar tax credit ends?

The Clean Energy Credit (previously called the federal solar tax credit, or ITC), is scheduled to end on January 1, 2035. Currently set at 30%, the credit will drop to 26% in 2033 and to 22% in 2034.

I want to change out my appliances for ones that are more energy-efficient. Are there any benefits I can claim?

The new Inflation Reduction Act includes provisions for several incentives that reward homeowners for making eco-friendly upgrades. Some incentives include tax credits and rebates for installing new electric appliances. You can find more details about these incentives here.

Can I use solar and another type of renewable energy in combination to power my home?

Yes, you can use multiple types of renewable energy to power your home, such as a combination of wind and solar. You can also combine renewable energy generation with a non-renewable backup source of energy. Be sure to discuss your proposed plan with your local Herrin solar panel installer, so that you understand what you'll need and what types of incentives you may or may not qualify for.

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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