The “big beautiful bill” recently signed into law places an end date on the renewable energy tax credit program. Originally passed under the Inflation Reduction Act, these tax credits provided 30% coverage to a whole host of renewable energy projects, including residential solar systems. For homeowners around the country, the axing of this program means that as of December 31st, the federal government will no longer cover 30% of the cost of going solar.
Even while federal credits are set to expire, Illinois homeowners have never faced a better time to go solar. The Illinois Shine Program, for instance, sees the state covering around 40-50% of the cost. This, coupled with the federal tax credit—at least while it lasts—means 80% of the cost is covered by government until the year is out. For many solar programs, anything not covered by government is paid out at a fixed rate, with studies finding that the average Illinois homeowner breaks even at 5 years.
Generally, it takes around 60 days to get solar installed, meaning at day 61 you’re saving money.
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