Disclaimer: Due to the dynamic nature of current incentives, New Prairie will post as up-to-date information on current incentives as possible, please review current incentives with your New Prairie representative to ensure you are getting the most accurate information on incentives available to homeowners in Illinois.

New Prairie aims to provide current information, which may change with state and federal law shifts. This information was last updated in March 2026. 

Residential Renewable Energy Tax Credit
If you own your home or business property, there is a 30% Federal Tax Credit available in certain years.  This tax credit is calculated based on the entire cost of the solar installation which may include costs associated with the installation such as electric upgrades, structural enhancements, and/or tree removal.

The credit is a dollar for dollar reduction of your tax liability, not simply a deduction to taxable income.

Businesses can also take advantage of accelerated depreciation (MACRS) on their solar investment which further lowers the net cost of the system.

2026 UPDATE: Commercial enterprise, small business, or a home-based business, could be eligible for the Clean Electricity Investment Credit. You or your hired tax professional are responsible for completing the necessary paperwork to receive this credit. Find form #3468 on IRS.gov for more information.

DISCLAIMER: Not all customers are eligible for CEIC

DISCLAIMER: Not all customers are eligible for the FITC (Federal investment tax credit).

Solar Renewable Energy Certificates (SRECs)
Maximize Savings with Solar Renewable Energy Certificates (SRECs).

In Illinois, the Solar Renewable Energy Certificates (SREC) program offers a powerful incentive for both home and business owners to invest in solar energy. This program rewards systems with incentives based on production. For systems up to 10 kilowatts (kW) AC, the incentive is delivered as a lump sum 9-18 months post-commissioning. (Program Years: 2020-2021-2022-2023-2024-2025)

2026-2027 Program Year  UPDATE:

Small DG customers should expect a split payment structure going forward. 50% of the total contract value will be paid at energization, with the remaining 50% distributed ratably on a quarterly basis over the following 6 years.

★A $20/REC Adder has been APPROVED (As of February 2026) for customer-owned Small DG projects who will not be able to collect the Investment Tax Credit (ITC)! 

In short, this is Illinois’ response to the loss of the federal incentive. This update significantly increases the incentive for customer-owned residential projects.

The SREC incentive can significantly reduce your project’s overall cost. To learn more about the program, visit illinoisshines.com

New Prairie simplifies the application process for state incentives through the Illinois Shines program. Partnering with Carbon Solutions Group (CSG), an Approved Vendor, New Prairie ensures you receive your incentive in one comprehensive payment, helping to further offset residential solar system costs. Minimal fees are associated with this program, and we will review these with you before contract signing.

★ New Prairie’s clients benefit from lower vendor fees and lower collateral requirements due to our longstanding status and success within the program!

For more info about Carbon Solutions Group, visit carbonsolutionsgroup.com

USDA Rural Energy for America (REAP) Grants
The USDA offers an opportunity to apply for a grant to assist agricultural producers and rural small businesses to complete a variety of clean energy projects including solar installations. This grant can cover up to 25%-50% of the eligible project costs. Please discuss the application process with a New Prairie Solar Consultant. Learn more: https://programs.dsireusa.org/system/program/detail/2511

Modified Accelerated Cost-Recovery System (MACRS) Accelerated Depreciation
Business solar installations can also qualify for a depreciation deduction for income tax purposes. The depreciable basis is the system cost less ½ of the xx% Federal Tax Credit.
DISCLAIMER: Not all customers are eligible for the FITC (Federal investment tax credit).

Learn more: https://programs.dsireusa.org/system/program/detail/676

Although most electric cooperatives in our area no longer offer net metering, Ameren is still accepting new net metering interconnections.

This initiative enables system owners to balance the electricity generated by their solar system with the electricity supplied by Ameren. If your system produces more energy than you use on a sunny day, the surplus will compensate for the deficit on a day you need it.

Traditional Net Metering will end by Dec. 31st 2024. Systems installed before 2025 are eligible for Net-Metering. 

For Ameren customers, there is still an exchange for excess energy your system produces. Ameren is transitioning to a model where you’ll receive credits on your supply charges, but delivery charges will no longer be included, which still offers additional value for your investment.

For EIEC qualifying customers, excess energy is bought back by the utility at their on-peak wholesale energy rate.

Net metering simply allows a solar system to export excess electricity production (that cannot be used by the home/building) to the grid.  Ameren keeps track of the kilowatt hours (kWh) exported to the grid in a “kWh bank” similar to roll-over minutes in a cell phone plan.  At night or on a cloudy day, when electricity is imported from the grid, there is no cost for the electricity up to the balance of the kWh bank. Ameren charges you only for the net amount of the electricity you consume.

Learn more about net metering!

Smart Inverter Rebate 

Ameren’s Smart Inverter Rebate – While we understand its appeal, participation requires allowing Ameren remote access to your inverter and the ability to modify its settings in real time, including adjustments to real and reactive power. It also limits you, and any future homeowner, from signing up for any third-party rate. Your ability to select an alternate electric supplier may be limited based on decisions you make when accepting a rebate. A rebate may affect your eligibility to receive any delivery service credits (Net-metering) for the excess electricity generated.  Currently, none of our customers have opted in, so while we can’t speak from direct experience, we encourage reviewing the full program details here.

Download: Rider CGR – Customer Generation Rebate. pdf 
Date of Filing, November 18, 2022 Date Effective, January 5, 2023

EXCERPT FROM Illinois Distributed Generation Rebate Application:
The Customer shall be financially responsible for the smart inverter. The Company shall have the ability to operate and control the SMART inverter directly or through aggregators in accordance with the most current governing interconnection rules. Moreover, the Company will either own the communication device and be responsible for communication costs incurred during operation or approve an appropriately secure third party owned communication device to communicate with Ameren’s system.