Illinois is a Midwestern state of the USA. It is popular for its spacious farmland, forests, hills, and ecologically-beneficial wetlands. On average, Illinois gets 5 hours of sunlight throughout the year. The availability of land and abundance of sunshine make Illinois an ideal state for the installation of photovoltaic panels and generating energy through solar systems. While Illinois is not among the top solar states, it is gearing towards achieving energy independence as solar power is rapidly proliferating in this Midwestern state.
A major factor that had led to the increased uptake of solar energy is the decrease in the cost of photovoltaics. The average cost per watt of solar panel installation in Illinois ranges from $2.58 to $3.50. And the average solar payback period in Illinois is 7.84 years. A cash purchase is the most common method used for buying solar equipment. However, there are many financial options available for customers who cannot afford to buy solar as an upfront purchase. These options include the availability of low-interest solar loans and solar leases or PPAs.
Not just that, the government has shown a strong commitment to the rapid proliferation of solar energy in the state. The Renewable Portfolio Standard (RPS) states that renewable energy should contribute 25% to the state’s energy mix by 2025. Estimates indicate that Illinois’s solar installations are expected to grow at a rate of 1700% in the next five years.
Solar Friendly Incentives Offered by Illinois
The state has introduced the following solar-friendly incentives and rebates:
Federal Solar Investment Tax Credit (ITC)
Solar systems that have been installed by December 2021 can claim a 26% federal tax credit.
Solar Renewable Energy Credits (SRECs)
According to this incentive, commercial units get financial compensation for the per kilowatt-hour produced by the system.
Following statistics reveal the state of solar in Illinois in a glimpse:
- Solar Installed (MW): 1,043.8
- National Ranking: 21st (13th in 2020)
- Percentage of State’s Electricity from Solar: 0.63%
- Solar Jobs: 5,259
- Solar Companies in State: 306 (63 Manufacturers, 100 Installers/Developers, 143 Others)
- Total Solar Investment in State: 1.9 billion
- Prices have fallen 11% over the last 5 years
- Growth Projection and Ranking: 3,235 MW over the next 5 years (ranks 12th)
- Number Of Installations: 36,213
Need For Solar Panel Disposal Solution
The true potential of solar power in Illinois is far greater than its current status. Ambitious targets and solar-friendly legislation have placed Illinois on a path of becoming an energy-sufficient state very soon.
However, the rapid proliferation of photovoltaic technology also raises the alarming question about the decommissioning and disposal of end-of-life solar panels. Most experts agree that recycling old solar panels is the most cost-effective and eco-friendly waste disposal option for solar waste.
If you are looking for decommissioning or large-scale solar panel recycling solutions in Illinois, contact We Recycle Solar. We provide recycling solutions for solar panels, batteries, and other equipment. Our processes are safe, efficient, and compliant with all federal and state laws.
Looking for decommissioning or large-scale Illinois solar panel recycling solutions?
Unless otherwise noted, all data from SEIA/GTM Research U.S. Solar Market Insight