Below is a distillation of key information from these resources:
How Solar Works
Light from the sun shines onto your solar panels’ photovoltaic cells and produces a direct current (DC) electrical flow. An inverter then converts DC electricity to alternating current (AC) electricity that most homes use. Your system is also monitored by the inverter through an internet connection.
Your system and home are still connected to the grid. You will use electricity from the grid at night and send renewable energy into the grid during the day. This is monitored by a ComEd smart meter.
Through ComEd’s net metering program, ComEd pays you for your renewable energy production and you pay for your nightly usage. The goal of a properly sized system to to cancel the two bills out. ComEd will credit your system’s production up to a $0 bill for you.
Illinois Incentive Program
Under the new Future Energy Jobs Act legislation, Illinois has created a market for clean energy. Buyers on the market can purchase Renewable Energy Credits (RECs) -certificates that provide evidence for offsetting carbon production with solar, wind, biogas, and other forms of renewable energy. Each REC accounts for 1000 kWhs of energy produced.
Our company has already reserved Solar Renewable Energy Credits with one of two certified brokers, SRECtrade. This means that upon certification of your solar installation, you will receive 15 years of renewable energy credit payments upfront based on the production value of your solar system. This amounts to 30-40% off of your system cost & installation, depending on how productive your system is estimated to be.
Federal Tax Incentive
Since 2009, the federal government has been issuing a tax credit for residential renewable energy. This tax credit covers 30% of all costs associated with solar (including installation) and can be spread out over five years if you have a low tax liability.
There is a form that must be filled out when filing your taxes. We encourage you to consult with your accountant.
What Aeos Offers
Aeos Energy is a startup based in Tucson and Chicago. We believe that we offer the best residential solar installation with the best value. Our approach includes energy efficiency measures for your home before we size your system. This provides the best value by reducing the amount of money spent on solar. We also take advantage of all financing options available to the national solar market, making solar more accessible for families.
Thank you for reading. I hope you’ve gleaned some insight from this short report and can tell others about the renewable energy options available to them. If you have any questions about solar or renewable energy legislation, please feel free to reach out. I personally have 3 years of experience in the Chicago solar industry working on both residential and flagship solar arrays in solar design confirmation and permit preparation.
Margo Holowicki - I’m a solar energy consultant and web developer. Follow me at @JoyCodesJS if you want to be informed about new articles. Please feel free to suggest topics or give feedback on anything you see here. Thanks.