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Thinking of a solar panel install?

Solar panel installations, in the state of Illinois, have officially entered the "Early Bird Gets the Worm" phase of the solar energy market. Families, Farmers and Firms, throughout Illinois, can turn to Lumin Energy Company to guide them through the solar energy installation process. We help folks produce their own solar energy.

So how much can I really save going solar?

When measuring states based upon pure solar energy savings, Illinois is, for now, one of the top states for solar energy in the United States. With the solar renewable energy credit program, that has just been administered in November 2018, we can save many of our residential customers up to 70% off of the next 25 years of their electricity consumption. For our commercial and agriculture customers, we can often times save up to 90% of the current electricity costs.

When is it the right time to install solar panels in the state of Illinois? In the state of Illinois, the time to install solar panels is ASAP. It is time to lock in your Midwestern, first solar energy technology pioneers, extreme solar panel installation incentives. These incentives do get less and less overtime, eventually going away for good. Today, early first solar energy technology pioneers can lock in solar incentives for the next 15 years. We will give you a free quote and design. Test us on whether we can show you true savings. Sick your CFO or accountant on our solar energy agents. Our solar energy agents know that in Illinois today, you can start saving on electric costs for your business or family, with a switch to solar energy. The only question is do you have the guts to join the Midwestern, first solar energy technology, solar energy pioneers!

Does your company offer financing? Lumin Energy Company works with multiple lenders and assists our customers in finding the loan product that is right for them. In addition, Illinois is the development phase of offering PACE funding to residents for their solar energy projects. 

The return of a solar panel installation project over the long term is determined by the solar energy technology. In most cases, we find the combination of SolarEdge HD WAVE inverter technology and the LG Chem RESU ESS solar battery back up to be the best fit. SolarEdge inverter and mobile monitoring, along with LG solar and battery storage products, together seem to provide the most utility, while being the solution to our energy efficiency optimization process.

Lumin Energy Company can provide a plug and play or turn-key ready solar panel installation. We can provide farmers, families and firms, along with other do-it-yourselfers out there, extensive solar energy products. Lumin Energy Company invests in ourselves, and our communities, through industry-leading solar training, solar safety procedures, and solar safety operations.

How do I get started?  Lumin Energy Company offers 100% free solar panel project consultation with a complete financial analysis of the solar panel project. All we need is an electric bill to provide you a free solar energy quote.

Illinois has some of the best solar incentives in the nation including:

Solar Renewable Energy Credits (SRECs)

Illinois’ renewable portfolio standard (RPS) commitments now include the commitment to producing 25 percent of Illinois state electricity from renewable resources, by 2025. That’s an aggressive goal to achieve, and to make this happen, the state has an incentive that rewards homeowners for helping Illinois reach that target. For each megawatt hour (MWh) of electricity your solar system produces, you will be granted one Solar Renewable Energy Credit (SREC) that you can then sell in the market, creating an income source for the life of the system.

Illinois Net-Metering
Illinois’ net metering policy ensures your utility will buy back any excess electricity your solar system produces. Net metering allows you to benefit from the full value of your solar panels and is a great way to balance out your electricity production and consumption, which does not always happen at the same time. For example, you use more electricity in the evening when the sun is not shining. Unfortunately, receiving the great retail rate credit for net metering is not offered to the rural electric coops. So if you are in a coop, you will want to make sure that you are using all the energy your system produce with a battery, or that you only use solar to offset day time use. Ameren, Commonwealth Edison, Mount Carmal public utility and MidAmerican Energy company all offer full retail rate net metering to their solar customers. This is also a program that you need to get into before it inevitable expires. This program can only be offered to solar energy technology early adopters. Once again, the early bird get the worm stage of the Illinois solar market!

Property Tax Break
Illinois does not assess the value of your property with the solar panels. As a result, your property tax bill will not go up if you install solar panels.
Federal Solar Income Tax Credit

The federal solar income tax credit is a, 30% of the total solar energy installation cost, tax credit. This federal solar income tax credit is available to both families and businesses. There are two important key understandings related to the federal solar income tax credit. The first is that money owed or paid to the IRS, can now be applied toward paying for your family or busineess, 25 -30 year, electric utility costs. The second is that a family or business must have the federal income tax liability, in which to apply the federal income tax credit. Tax liability can be an issue for those that are retired or some business situations. Even if you don’t have enough tax liability to claim the entire credit in one year, you can “roll over” the remaining credits into future years for as long as the tax credit is in effect. However, remember that if you sign a lease or PPA with a solar installer, you are not the owner of the system, and thus you cannot receive the tax credit.
2016 – 2019: The tax credit remains at 30 percent of the total solar installation cost of the solar energy system.
2020: The federal income tax credit will be reduced to 26 percent of the total solar installation cost of the solar energy system.
2021: The federal income tax credit will be reduced to 22 percent of the total solar installation cost of the solar energy system.
2022+: The federal income tax credit will be reduced to 0 percent of the total solar installation cost of the solar energy system for residential installations. The federal income tax credit will be reduced to 10 percent of the total solar installation cost of the solar energy system for any commercial installation. Owners of a new commercial solar energy systems can deduct 10 percent.

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