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Section 48E Clean Electricity Investment Credit
Illinois — state program6 percent of the qualified investment (base); increased up to 5 times or up to 30% for facilities meeting prevailing wage and registered apprenticeship requirements; plus 10-percentage points for domestic content requirements; plus 10-percentage points if located in an energy community
A newly established, technology-neutral investment tax credit that replaces the Energy Investment Tax Credit (Section 48) once it phases out at the end of 2024. It is an emissions-based incentive available for qualified clean electricity facilities and energy storage technology placed in service after Dec. 31, 2024. The credit is eligible for direct payment or transfer, including to tax-exempt organizations and government entities.
Program details
- Type
- tax-credit
- Amount
- 6 percent of the qualified investment (base); increased up to 5 times or up to 30% for facilities meeting prevailing wage and registered apprenticeship requirements; plus 10-percentage points for domestic content requirements; plus 10-percentage points if located in an energy community
- Status
- open
- Administrator
- Internal Revenue Service (IRS)
Source: Illinois — state program. Confirm current terms with the administering agency before applying.