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IL Ends $4k Rebate program

Discussion in 'Midwest/Great Lakes' started by paco3791, Mar 25, 2015.

  1. paco3791

    paco3791 TMC OG

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  2. FlasherZ

    FlasherZ Sig Model S + Sig Model X + Model 3 Resv

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    Yes, I talked about it a bit here:
    U S Falling Behind on Renewable Energy - Page 3

    They've even suspended the 25% rebate program (up to $10k) for solar installs, while they review it. That really sucks, because the program was structured to ensure that they approved you *before* you built; unfortunately, there are people like me who then installed a solar PV system and now the state said "sorry, we're reviewing it"...

    The text from the state reads:

    Without this rebate, the payback in terms of power offset is going to be near 23-25 years, which far exceeds the inverter lifetime and comes near the panels' lifetime. Budgeting a replacement inverter about 15 years out means no return at today's energy pricing. Of course, I could make assumptions about power pricing, but then we have to talk about cost of money, inflation, etc.

    Hopefully the state pays out the rebates that had been approved, but the lack of a program in Illinois in future years is going to really stem the growth of renewables here. Power is extremely cheap - Ameren/IP charges ~5-6c per kWh, my co-op charges ~9.5c, which makes it difficult for renewables to pay for themselves in distributed generation.

    I don't blame them, our state is pretty f'ed up right now. Lavish pensions to state employees in an unsustainable program, along with decades of runaway spending have left the state in the worst economic condition of any state despite citizens carrying one of the largest combined tax burdens in the country. It sucks that I might have to eat the 25% incentive I was expecting, but we have to put the state on a better course than we've had over the past couple of decades.
     
  3. paco3791

    paco3791 TMC OG

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    Wow! That is unfortunate. Your take is of course 100% on point. The only thing I'll add is I thought the Green fleets rebate program was supposed to be self sustaining through a Electricity surcharge or something? Though in the current fiscal/political environment all revenue is probably going to be commandeered to patch holes in the budget.

    Energy is very cheap overall in IL. ComEd's RRTP program really hasn't saved me any money overall (free charging at work) but off peak rates are very cheap especially when you look at similar off peak rates in surrounding states. the Non-ComEd options for fixed rate 100% renewable energy (offsets) are also very reasonable even if they aren't the cheapest option when your pulling down as much power as the typical EV driver is. If I wanted to spend the money on offsetting my energy use that's probably the way I'd go, though that has more to do with my house not really having great solar resource capacity, even for this latitude, than anything else.
     
  4. Dbitter1

    Dbitter1 Journeyman Member

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    Thanks for the heads-up. I guess I won't hold my breath waiting for my submission I made in Dec 2014. Stupid broke state. :cursing:
     
  5. Majerus

    Majerus Member

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    This is how I feel at the moment as well.
     
  6. paco3791

    paco3791 TMC OG

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    I mean who knows, maybe it is just a temporary suspension and once a budget gets passed payments will resume. Especially if it's true that the program already has an established funding stream. But yeah, holding your breath for the budget problems to be resolved in IL would probably be bad for your health.
     
  7. FlasherZ

    FlasherZ Sig Model S + Sig Model X + Model 3 Resv

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    Some good news today:

    So it appears that the state may still process the applications that it currently has, and then shut the program down. I don't know if this means that the EV rebates will be paid, but I was pleasantly surprised to see this news (otherwise, losing $10k was a big problem for me). Now I just have to hope the check clears. :)
     
  8. paco3791

    paco3791 TMC OG

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    Fantastic and somewhat surprising news. Don't know if we should give them too much credit for doing "the right thing" but, my expectations are pretty low.
     
  9. Fezzik

    Fezzik P67429

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    Same here. I'll not plan for it and if it shows up... invest it into TSLA
     

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