2025 Solar Incentives Guide for Stickney, IL - Tax Credits & Rebates
In this guide, we'll cover the latest solar incentives and rebates available in Stickney.
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.
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What Solar Tax Credits, Incentives, and Rebates are Available in Stickney?
Special Assessment for Solar Energy Systems
ComEd - Energy Efficiency Program for Residential
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
Federal Residential Renewable Energy Tax Credit
Source: https://www.dsireusa.org/
The term "solar incentives" includes a range of financial incentives implemented to make installing and using solar panels more affordable. This is done to encourage people to switch to renewable energy. Incentives may include things like discounts, cash back or credit towards your monthly utility bill. Some incentives are handled federally, while others are handled by the state of Illinois or your utility company, county or municipality. Types of solar incentives might include:
- Rebates: A rebate is a partial refund given after you've purchased your solar panels. Rebates might be offered by your local utility company, your county or your state. The discount that rebates offer is normally applied to the price of solar panels before calculating tax credits.
- Tax Credits: Tax credits reduce, dollar-for-dollar, the amount of income tax you owe the federal government. These are different from tax deductions.
- Net Metering: Be sure to talk to your Stickney utility company about signing a net metering agreement. This will allow you to get a credit towards your utility bill every month for the value of excess energy generated by your solar panels. You may receive either a dollar-for-dollar credit or a percentage of the value.
- Solar Renewable Energy Certificate (SREC): SRECs and other similar performance-based incentives are generally handled by your state government. Once your solar panel system meets a certain threshold (normally a small amount of energy production), you can receive SRECs that can be sold to your utility company or other buyers. The money you make from the sale is usually considered part of your taxable income.
- Tax Exemptions: These could come in the form of property tax exemptions, which allow you to ignore the value added by your solar panels when paying taxes on your house. You could also look for exemptions on sales tax at the time of purchase.
Federal Solar Incentives
When someone says "solar incentives," you probably think of federal incentives first. It's likely that you've heard of the Federal Solar Investment Tax Credit, or ITC. This is a tax credit equal to a specified percentage of the money you spend on your solar system.
The ITC can be applied to solar systems installed after January 1, 2006, and under this program you can deduct from your taxes a percentage of the total cost of solar panels, equipment, accessories and labor. This credit can apply towards a solar panel system installed on a primary or secondary residence in the United States that you own. Originally, you could claim 30% of the total cost, although the amount you can claim may range between 26-30%. There is no maximum amount you can claim.
To best understand how the ITC may apply to you, contact your local Stickney solar panel installer and ask for more information.
In August 2022, the Inflation Reduction Act laid out new provisions for the ITC, now called the Clean Energy Credit. The Clean Energy Credit re-raises the credit up to 30% for solar systems installed between 2022 and 2032. After 2032, the credit percentage will decrease slightly each year until the program expires in 2035. Starting in 2023, the program expansion will also make it easier to get credit for energy storage systems.
More information about the new Inflation Reduction Act can be found here. To best understand how the new Clean Energy Credit applies to you, speak with your local Stickney solar installation company.
State & Local Solar Incentives
Not all solar incentives are federal; tax credits, rebates and more may be offered at the local or state level. The incentives — which may be provided by your county or municipality, or by the state of Illinois — could be offered on an ongoing basis, or for only a limited time.
Next Steps for Installing Solar in Stickney
The expanding number of available solar incentives has contributed greatly to the increase in the nationwide adoption of solar energy over the past 15 years. You may receive solar incentives from your local utility company, the federal government or the Illinois government. If you're prepared to make the change to solar energy, getting in touch with your local Stickney solar panel installation expert is an excellent place to start.
EcoWatch's Stickney, IL Solar Incentives FAQs
How much can I save annually on my electric bill if I install solar panels on my house in Stickney?
Generally, Stickney homeowners who install solar panels save approximately $707.72 per year, or about $13,446.62 over 20 years after making the switch.
Who installs solar panels near me?
To find the right solar panel installer for you, check out our guide to Stickney's top solar panel companies.
When does the federal solar tax credit end?
The Clean Energy Credit (formerly called the federal solar tax credit, or the 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 apply for?
The recently passed Inflation Reduction Act introduces a number of 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.
Can I use multiple types of renewable energy to power my home?
You can power your home with multiple types of renewable energy, or a combination of renewable and non-renewable energy. Make sure you talk through your ideas with your local Stickney solar installation expert. They can help you as you plan for your project and also help you understand the various incentives that you will or won't 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.