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The path to installing a solar photovoltaic (PV) system on one’s own roof can be both confusing and expensive. Although the cost of solar is declining, it remains a barrier to many potential adopters. To combat this and promote clean energy, the government at both state and federal levels offer incentives including personal tax credits, direct cash payments, loan programs and solar renewable energy credits. This research study pertains to single family homeowners serviced by the Ameren utility company in Normal, IL. However, the framework of this study may be applicable to other residents within the United States who want to understand what incentive structures are available to them. After explaining the incentives that are available, this study works to match the most compatible incentives with single-family homeowners. These groups are then used as representatives in our System Advisor Models (SAM) which are generated for each group paired with each incentive with all other parameters equal at a specified standard. Through comparative analysis, financial feasibility is determined based on the incentives impact on initial costs of installation and simple payback period. The significance of this study is to show residents what the available options are, along with the benefits in hopes of increasing the rate of residential solar adoption in Normal, IL.
Phillips, Jessica; Hand, Ryan; and Ellis, Kevin, "Lighting The Way To Solar: A Guide On Residential Solar Incentives For Those Who Call Normal, Il Home." (2021). Technology. 4.