As solar energy becomes more established in our culture, certain areas across the Midwest are given an extra opportunity to take advantage of it through different rebates and incentives. This creates an unprecedented way for properties, small or large, to reduce their overhead substantially with a swift return on investment. By installing a solar photovoltaic energy system today, you will effectively reduce your electricity costs for 25 years while keeping your costs for energy more stable and less prone to fluctuation. In addition you can expect the following additional benefits:
- Energy independence and reduced reliance on fossil fuels
- Individualization against competing businesses or neighbors
- Reduced impact and increased benefits to the environment
- Additional business venture investment with savings
- Increased resale value and speed-of-sale of the property
- Ideal marketing and public relations material for potential business clients
Let’s take a look at the breakdown of each rebate and incentive program below. And remember- these incentives are in addition to the current Federal Tax Credit of 30% of eligible renewable energy systems.
Illinois Rebates and Incentive Programs
The Illinois Power Agency has developed electricity procurement plans ending in March of 2016 to encourage property owners across the state to install solar photovoltaic systems. Based on your system size, this program has the potential to cover 20% to 30% of your total system costs. Luckily, certified solar installers are able to reserve a certain amount of these credits for up to 6 months for those property owners are interested in moving forward with an installation this year. All that is required on the front end is a simple letter of intent showing you are intending to move forward with this investment this year. Check out this website for more specifics on the program and talk with a certified solar professional today to get started.
For those of you in the Springfield area with City, Water, Light and Power as your utility provider, you could receive up to $2,500 for a residential solar installation and $5,000 for a commercial solar installation on a first come, first serve basis. If you are considering this investment for your property in Springfield, Illinois, check out this website for more specifics and reach out to a certified installer for a free and simple solar estimate.
Missouri Rebate Programs
In Southwestern Missouri near Branson, Joplin, and Springfield, Empire District Electric Company is currently offering a solar energy rebate at $.50/watt. In other words, this has the potential to save you between 10% and 15% on your total installation costs! If you are considering this investment for your property in Branson, Springfield, Joplin, or the surrounding areas, check out this website for more specifics and reach out to a certified installer for a free and simple solar estimate.
In Kansas City, KCP&L is currently offering a solar energy rebate at $.50/watt for its customers in the MO Service Area (see the orange on the map). In other words, this has the potential to save you between 10% and 15% on your total installation costs! If you are considering this investment for your property in Kansas City, talk to a certified installer today for a free and simple solar estimate.
Several utilities and agencies across Missouri and Illinois including the Illinois Power Agency, CWLP, Empire District Electric, and KCP&L are offering rebates and incentives to encourage property owners to install solar energy. This essentially allows for the upfront cost of solar to not seem as daunting as some may think, and ensures a quicker payback. However, you must act quickly and take advantage of these programs as they can expire at any given time (if the money runs out!). Luckily, property owners are still able to utilize the 30% Federal Tax Credit for eligible renewable energy systems until the end of 2019 to help your return on investment. With the inevitable rising costs of utility rates in the future, solar is truly the best investment you could make today and now is the best time to take action with these active incentives.