Renewable Energy and Energy Efficiency Project Financing (Illinois)

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Last modified on February 12, 2015.

Financial Incentive Program

Place Illinois

Name Renewable Energy and Energy Efficiency Project Financing
Incentive Type State Bond Program
Applicable Sector Commercial, Industrial, Nonprofit, Schools, Institutional, Community Colleges
Eligible Technologies Clothes Washers/Dryers, Dishwasher, Refrigerators, Dehumidifiers, Ceiling Fan, Water Heaters, Lighting, Lighting Controls/Sensors, Chillers, Furnaces, Boilers, Heat pumps, Central Air conditioners, Programmable Thermostats, Energy Mgmt. Systems/Building Controls, Building Insulation, Windows, Custom/Others pending approval, Passive Solar Space Heat, Solar Water Heat, Solar Space Heat, Solar Thermal Process Heat, Photovoltaics, Wind, Biomass, Geothermal Electric, Geothermal Heat Pumps, CHP/Cogeneration, Daylighting, Renewable Fuels, Fuel Cells using Renewable Fuels, Other Distributed Generation Technologies, Energy Storage, Yes; specific technologies not identified, LED Lighting
Active Incentive Yes
Implementing Sector State/Territory
Energy Category Renewable Energy Incentive Programs, Energy Efficiency Incentive Programs
Amount Varies by project

Start Date 2010-01-01

Program Administrator Illinois Finance Authority

References DSIREDatabase of State Incentives for Renewables and Efficiency[1]


The Illinois Finance Authority (IFA) is a state conduit issuer of tax-exempt bonds and credit enhancement for projects in Illinois. IFA funding is available to commercial and non-profit entities as long as those entities meet strict eligibility criteria. In 2012, the legislature also added schools and community colleges to the list of eligible entities for energy conservation funding. Entities seeking funding must demonstrate that their projects provide a significant public benefit for the citizens of Illinois. In 2009, the IFA was authorized by legislation (S.B. 1906 and S.B. 390) to provide funding via issuance of tax-exempt bonds for renewable energy projects and energy efficiency projects.

For the purposes of this program, renewable energy projects include those that utilize wind, solar thermal energy, photovoltaic cells and panels, biodiesel, crops and organic waste biomass, trees and tree trimmings, hydropower, Illinois-produced landfill gas, geothermal, and "other alternative sources of environmentally preferable energy." Transmission lines and associated equipment used to transfer electricity created by renewable energy and renewable energy storage technologies are also eligible.

Incentive Contact

Contact Name Main Office
Department Illinois Finance Authority
Address 180 N Stetson
Address 2 Suite 2555
Place Chicago, Illinois
Zip/Postal Code 60601
Phone (800) 717-6066


Authorities (Please contact the if there are any file problems.)

Authority 1: 20 ILCS 3501
Date Enacted 2009 (subsequently amended)

  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]


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