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Incentive Summary for Homeowners, Businesses, and Nonprofits

Interior Design

Money is Available to Help You Go Green

You Can Save Money and Energy

Whether you are a homeowner, property owner, or nonprofit, there are incentives to increase energy efficiency, adopt renewable energy, and save you money up-front while lowering your utility bill.

How Much Can You SAVE?
Solar

Inflation Reduction Act:

Naperville Solar Installation Rebates through the Naperville Renewable Energy Program

  • The City of Naperville Electric Utility is offering incentives from $1,000 to $3,000 to Naperville Electric Customers for residential solar energy systems installed. 

  • Commercial customers can receive a $50,000 maximum cost reimbursement award, up to 50% of the applicant’s total cost of the energy improvement project. 

Sell your Renewable Energy Credits (RECs) to save more on your installation costs

  • Residential: REC’s are a state incentive, whose value is equal to the solar energy you produce over 15 years times the price set by the Illinois Power Agency for REC’s. For your system, the value is 7.1 cents/kWh produced, which is paid in year one. Please note this is an incentive which is subject to tax. (Source: ComEd)

  • Commercial: REC’s are a state incentive, whose value is equal to the solar energy you produce over 15 years times the price set by the Illinois Power Agency for REC’s. For commercial customers, this is paid out over 5 years, and the REC value varies based on the size of the solar system. Please note this is an incentive which is subject to tax. (Source: ComEd​)

Save even more by joining a solar group-buy:

  • A group-buy getyou a volume discount by combining the purchasing power of multiple homeowners and ensures you're using a trusted and vetted contractor.

  • Learn more from Solar Switch Chicagoland.

Illinois Solar for All (ILSFA) Low-Income Community Solar Programs:

  • Some low-income households can install solar panels for little to no upfront cost.

Total savings is expected to be around two-thirds the cost of the whole system, and even more if you are income-qualified for ILSFA. Contact Accelerate Climate Solutions to help you navigate these incentives!

How Much Can You SAVE?
Geothermal (Ground-Source Heat Pump)

Inflation Reduction Act:

  • Qualified home owners and businesses are eligible for a 30% tax credit against the cost of their system. 

  • Tax-exempt organizations can receive, 30% direct pay. Additional incentives are available if the system meets certain labor and sourcing requirements. Check out this great explainer video and webpage from Solar States.

Naperville Geothermal Rebates through the Naperville Renewable Energy Program

  • Commercial customers can receive a $50,000 maximum cost reimbursement award, up to 50% of the applicant’s total cost of the energy improvement project. 

For ComEd Customers:

  • Up to $9000 for a ground-source heat pump for your home, plus up to $1800 for the indoor unit. 

Save even more by joining a geo group-buy:

  • A group-buy getyou a volume discount by combining the purchasing power of multiple homeowners and ensures you're using a trusted and vetted contractor.

  • Learn more from Grow Geo Chicagoland.

The upfront cost of geothermal can be intimidating, but the energy savings during operations is expected to provide a return on investment in less than a decade when geothermal incentives are utilized. Contact Accelerate Climate Solutions for help understanding your option.

How Much Can You SAVE?
Air-Source Heat Pump

Inflation Reduction Action - Households:

  • 30% (up to $2000) tax credit.

  • 50% (up to $4000) for moderate income families.

  • 100% (up to $8000) for low income families.

  • The Rewiring America Inflation Reduction Act (IRA) Calculator is a great resource to learn how much you can save on a heat pump and other tech that will reduce your carbon impact. Just put in your zip and income and find out your eligibility.

 

Naperville Air-Source Heat Pump Rebates through the Naperville Renewable Energy Program:

  • The City of Naperville Electric Utility is offering incentives from $500 to $600 to Naperville Electric Customers for air-source heat pumps

  • Make sure you are purchasing a cold-climate heat pump. Accelerate Climate Solutions will even help you navigate your conversation with HVAC contractors!

ComEd incentivizes air-source heat pumps and no long provides a rebate for air conditioners (Source: ComEd):

  • Up to $2000 for an air-source heat pump.

  • Up to $1350 for a mini-split heat pump.

 

Energy Efficiency Tax Deductions - Commercial Buildings: 

A tax deduction of up to $1.80 per square foot is available for buildings that save at least 50% of the heating and cooling energy of a system or building that meets ASHRAE Standard 90.1-2001 (for buildings and systems placed in service before January 1, 2016) or 90.1-2007 (for buildings and systems placed in service before January 1, 2017). Partial deductions of up to $.60 per square foot can be taken for measures affecting: the building envelope, lighting, or heating and cooling systems. For more information, see the 179D Commercial Buildings Energy-Efficiency Tax Deduction page. (Source: US Office of Energy Efficiency and Renewable Energy)

Air-source heat pumps tend to be cheaper to operate at most temperatures compared to legacy air-conditioning and heating equipment. When natural gas prices are low, 

How Much Can You SAVE?
Other Tax Credits

Inflation Reduction Act:

  • Tax credits available now:

    • Battery storage: 30%

    • New electric vehicle (EV): $7500 (must meet certain manufacturing requirements). Some vehicles only qualify for $3,750. Income limitations and MSRP caps apply.

    • Used EV: $4000 

    • Heat pump water heater: $2000

    • Weatherization: $1200

    • EV charger: up to $1000 (income-based)

    • Electric panel: $600

  • Additional rebates will be available around the end of 2023 for residents making less than 150% of the area median income* (AMI):

    • Efficiency rebate: up to $4000​

    • Heat pump water heater: up to $1750

    • Electric panel: up to $4000

    • Electric wiring: up to $2500

    • Weatherization: up to $1600

    • Electric/induction stove: up to $840

    • Heat pump clothes dryer: up to $840

  • See above for solar and heat pump incentives

*AMI for the Chicago-Naperville-Joliet region can be found on the City of Chicago website.

State of Illinois:

  • EV rebate $4,000 for new or used, subject to availability of funds during each cycle; can be combined with federal incentive

Naperville Renewable Energy Program:

For ComEd Customers:

For Nicor Customers:

Accelerate Climate Solutions is here to help! If you have questions about incentives, prioritizing carbon reduction home or business projects, or qualified contractors, please reach out.

Learn More

MoneyGeek has a summary of the cost savings you can get with a solar system, including return on investment and payback time.

 

Participating in other incentive programs, e.g., the Naperville Renewable Energy Program or selling your Renewable Energy Credits can get you a quicker and larger return.

See if your roof is right for solar and how much you can save using Google Project Sun Roof.

Learn More about IL Solar for All (ILSFA)

Learn all the ways you can save by reducing your carbon footprint by using the Rewiring America Inflation Reduction Act (IRA) Calculator

 

ComEd provides a nice summary of tax credits and renewable energy credits for solar.

For Businesses:

Illinois Power Agency summary of available incentives.

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