Solar Incentives in Schaumburg

Illinois' primary solar incentive program, administered by the Illinois Power Agency (IPA). Provides a single upfront payment based on the number of Solar Renewable Energy Credits (SRECs) your system is projected to generate over 15 years. One SREC equals one MWh of solar electricity produced. For most residential systems under 10kW in ComEd territory (Group B), the PY2025–26 SREC price is $75.48/REC — a ~10% decrease from PY2024–25. Payments go directly to the Approved Vendor (installer), who passes them to the homeowner as a reduction in system cost. For an average 10.5kW system, the total SREC value before vendor fees typically ranges from $11,000–$14,000, reducing net system cost by 30–45%. Capacity is block-based and fills each program year — apply early through an IPA-approved vendor.

Under Illinois law (35 ILCS 200/10), county assessors must value residential solar energy systems at no more than the cost of a conventional HVAC system, effectively excluding the added home value from solar from property tax assessments. Solar panels typically increase home value by 4–10%, which would ordinarily trigger higher property taxes — this exemption prevents that. Homeowners must file a PTAX-330 form with their county assessor's office to claim the exemption. At Illinois' average property tax rate of ~2.1%, the exemption saves approximately $13,000–$15,000 over the life of a typical system.

Solar energy equipment in Illinois is exempt from the state's 6.25% sales tax under the Illinois Retailers' Occupation Tax Act, as amended by the Climate and Equitable Jobs Act (CEJA). This exemption applies to solar panels, inverters, racking, and related equipment purchased for installation on a residential or commercial property. On a $28,000 solar+battery system, this exemption saves approximately $1,750 at the point of sale.

As of January 1, 2025, new solar customers in Illinois are enrolled in Smart Solar Billing rather than full retail net metering. Export credits apply only to the supply portion of the electric bill — not delivery charges, taxes, or fees. Credits accumulate monthly and are settled at avoided cost at the end of each annual cycle. Solar systems completed and interconnected by December 31, 2024 are grandfathered into full retail net metering for the lifetime of the system. Under Smart Solar Billing, pairing solar with battery storage and sizing systems for maximum self-consumption is strongly recommended, as export credits represent roughly 40–50% of the full retail rate.

Illinois Solar for All (ILSFA) is a state-funded program administered by Elevate Energy that provides solar access to income-eligible households at little or no upfront cost. Eligible homeowners can install rooftop solar with no upfront payment through a purchase, loan, lease, or PPA — with the guarantee that ongoing system costs will not exceed 50% of the value of the electricity produced. The program is funded via SREC sales to utilities, with higher SREC values than the standard Illinois Shines program. Single-family homeowners average over $1,000 in annual electricity bill savings. IMPORTANT: ILSFA reached capacity for single-family and 2–4 unit residential projects in 2025. Applicants can connect with an Approved Vendor to join the waitlist for 2026 funding.

Illinois' Community Solar program allows residents who cannot install rooftop solar — including renters, condo owners, and those with shaded or unsuitable roofs — to subscribe to a share of an off-site solar farm and receive credits on their ComEd or Ameren electricity bill. Subscribers typically save 5–20% on their electric bills with no installation required. Income-eligible households can participate through Illinois Solar for All's community solar track at reduced or no cost. The program is part of Illinois Shines and administered by the IPA.