What Are The Incentives and How Do They Work?
According to ComEd.com, 2018
Tron Solar or an otherwise specified solar energy contractor will receive monetary incentives that can go toward reducing the cost of your solar panel system. Here are the definitions of how each incentive:

Solar Renewable Energy Credits:

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.

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.

Federal Income Tax Credit (FITC): Taxpayers can claim a Federal Income Tax Credit (FITC) of 30% for qualified expenditures on a solar system that provides electricity to their residence (owned and lived in by the taxpayer). The Federal ITC only applies for purchases on solar panel systems. For more information, see https://www.energy.gov.
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