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

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

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 Mount Pleasant solar installers to see how much you can save.

By EcoWatch Local Advisors

Data Analysis: James Savino

Ranking Methodology: Karsten Neumeister

Updated January 20, 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 Mount Pleasant?

Special Assessment for Solar Energy Systems

Incentive Type:
Property Tax Incentive
Varies

ComEd - Energy Efficiency Program for Residential

Incentive Type:
Rebate Program
Appliances
Air Purifier: $50
Clothes Washer: $50
Dehumidifier: $50
Electric Clothes Dryer: $50
Freezer: $50
Refrigerator: $50
Room Air Conditioner: $25

Refrigerator/Freezer Recycling: Free pickup and $50, plus an additional $10 if recycling a room A/C at the same time
Heating & Cooling
Air Source Heat Pump: $400 - $600
Central A/C: $300 - $600
Ductless Mini-Split Heat Pump: $400
Geothermal Heat Pump: Up to $6,000/home
Furnace Blower Motor (ECM): $50 - $100
Miscellaneous
Advanced Power Strip: $10
Air Sealing: Up to $400/home
Attic Insulation: Up to $300/home
Duct Sealing: Up to $500/home
Lighting: In-store discounts, varies
Pool Pump: $275
Smart Thermostat: $100
Wall Insulation: Up to $400/home

Solar Renewable Energy Credits

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

Jo-Carroll Energy - Energy Efficiency Rebate Program

Incentive Type:
Rebate Program
Appliances & Electric
Clothes Dryer: $ 25
Clothes Washer: $25
Dehumidifier: $25
Dishwasher: $25
Refrigerator: $25
Heat Pump Clothes Dryer: $50
Refrigerator/Freezer Recycling: $25
Window A/C Recycling: $25

HVAC
Ground Source Heat Pump: $400 - $700/ton
Air Source Heat Pump & Mini Split: $200/ton
Furnace with ECM Blower Motor: $35/unit

Water Heaters & Flow Restrictors
High Efficiency Electric Water Heater: $125 - $300/unit
Solar Storage Water Heater with Electric Back-Up: $300/unit
Heat Pump Water Heater: $300/unit
Flow Restrictors: $1 - $5/unit

Lighting Measures
LED Exit Sign: $5/sign
LED Lamp/Fixture: $1/800 lumens/fixture
Occupancy Sensor: $5/sensor

Natural Gas
Dryer: $50
Fireplace Insert: $50
Furnace or Boiler: $125
Generator: $50
Stove: $50
Water Heater: $50

Outdoor Appliances
Pool Heater: $10% of equipment costs up to $150
Hot Tub: $10% of equipment costs up to $150
Fuel Switching: $100
Deck Heater: 10% of equipment costs up to $100
Outdoor Fire Pit: 10% of equipment costs up to $100
Grill: 10% of equipment costs up to $100

Insulation and Air-Sealing:
Home Air-sealing: 50% of cost
Home Energy Audit: Full rebate of audit cost (i.e., $300) after completing projects as recommended in the audit
Home Insulation: 50% of cost

New Home Program: $500

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 encourage people to switch to renewable energy by offering financial incentives that lower the burden of solar panel installation and use. Incentives could include things like discounts, cash back or monthly utility bill credits. Some incentives are handled federally, while others are offered by the state of Illinois or by your utility company, county or municipality. Some broad categories of solar incentives include:

  • Rebates: Rebates, or cash back after a purchase, are usually given prior to any solar tax credits being calculated. Rebates can be offered by your local utility company, by your state or by your county.
  • Tax Exemptions: Tax exemptions can come in one of two forms. The first is sales tax exemption, which is applied when you purchase solar panels. The second is property tax exemption. This allows you to ignore the added value of your solar system when paying property tax on your home.
  • Solar Renewable Energy Certificate (SREC): SRECs and other performance-based incentives may be available to you if your solar system produces more than a specified (generally small) amount of electricity. This category of incentives is generally handled at the state level. You can sell your SRECs to your utility company or other buyers, and the money you make is normally considered part of your taxable income.
  • Tax Credits: Tax credits are dollar-for-dollar reductions in the amount of income tax that you owe the federal government. (A tax credit is different from a tax deduction.)
  • Net Metering: Net metering is an incentive you can get once your solar panels are up and running. If you've signed a net metering agreement with your Mount Pleasant utility company, the company will subtract the value of the excess energy your solar system produces from your monthly utility bill. In some places, this is a dollar-for-dollar credit, while in others you may receive a refund equivalent to a percentage of the value.

Federal Solar Incentives

Federal incentives are the type of incentives that you are most likely to have heard of. The solar incentive that you're most familiar with is probably the Federal Solar Investment Tax Credit (ITC), which provides a credit on your taxes equal to a specified percentage of your solar system's cost.

The ITC originally covered 30% of the cost of installing a solar system, and has fluctuated slightly over the years between 26-30%. The installation date of your solar system will determine what percentage you qualify for. The total installation cost includes the panels themselves as well as the cost of accessories, equipment and labor. There is no maximum claim amount. The ITC applies to solar panels 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 Mount Pleasant solar panel installation expert to get more information.

In August 2022, the Inflation Reduction Act made revisions to the ITC, now referred to as the Clean Energy Credit. The new Clean Energy Credit extends until 2035. You can now apply for a 30% credit for solar systems installed between 2022 and 2032. The credit will then see a slight annual decrease until it expires. Beginning in 2023, it will also be easier to claim credits for energy storage systems under this new program.

Click here to learn more about the new Inflation Reduction Act. To fully understand how the new Clean Energy Credit applies to you, reach out to your local Mount Pleasant solar installation company.

State & Local Solar Incentives

In addition to those provided at the federal level, there are often also state solar incentives. Tax credits, rebates and more can be offered at a more local level. These incentives might be distributed by your county or municipality, or by the Illinois government. Some incentives may be ongoing, while others are available for a limited time.

Next Steps for Installing Solar in Mount Pleasant

The nationwide use of solar energy has significantly increased in the last 15 years, in part due to the increase in availability of solar incentives. You can obtain these incentives from the Illinois government, the federal government or your local utility company. Speak with your local solar panel installation company today to learn more and to save the most money possible on a solar system for your Mount Pleasant home.

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 (coming 2022)

Best Technology

Tesla Energy

★★★★★
4.5

  • 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

EcoWatch's Mount Pleasant, IL Solar Incentives FAQs

Can I get any financial incentives when I add solar panels to a vacation home, rental property or commercial property?

While we recommend getting in touch with your local solar installer and/or tax professional to best understand what solar incentives apply to you, many incentives apply to a second home, so long as that home is in the United States and owned by you. There may be other incentives available specifically for commercial properties, depending on the details.

How do I know if I qualify for solar incentives?

It's a good idea to talk to your local Mount Pleasant solar installer to get an understanding of which incentives your project may qualify for. In most cases, solar incentives apply to new solar systems installed on property you own (in the U.S.) within a specified date range. Some incentives, such as those provided at the level of the Illinois government, might have additional requirements.

How much can I save on my electric bill annually if I add solar panels to my Mount Pleasant home?

When you add solar panels to your home in Mount Pleasant, you can expect to save about $868.97 per year, or about $16,510.45 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 Mount Pleasant's top solar panel companies.

I want to trade in my old appliances for ones that are more energy-efficient. Are there any incentives I can claim?

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

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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