(35 ILCS 200/10-720)
For the purpose of this Division
"Allowance for physical depreciation" means (i) the actual age
in years of the commercial solar energy system on the assessment
date divided by 25 years, multiplied by (ii) its trended real property
cost basis. The physical depreciation, however, may not reduce
the value of the commercial solar energy system to less than 30%
of its trended real property cost basis.
"Commercial solar energy system" means any device or
assembly of devices that (i) is ground installed and (ii) uses
solar energy from the sun for generating electricity for the
primary purpose of wholesale or retail sale and not primarily
for consumption on the property on which the device or devices
"Commercial solar energy system real property cost basis"
means the owner of a commercial solar energy system's
interest in the land within the project boundaries and real
property improvements and shall be calculated at $218,000 per megawatt of
nameplate capacity. For the purposes of this Section,
"nameplate capacity" has the same definition as found in Section
1-10 of the Illinois Power Agency Act.
"Ground installed" means the installation of a commercial
solar energy system, with the primary purpose of solar energy
generation for wholesale or retail sale, on a parcel or tract of
"Trended real property cost basis" means the commercial
solar energy system real property cost basis multiplied by the
"Trending factor" means a number equal to the Consumer
Price Index (U.S. city average all items) published by the
Bureau of Labor Statistics for the December immediately
preceding the assessment date, divided by the Consumer Price
Index (U.S. city average all items) published by the Bureau of
Labor Statistics for December of 2017.
(Source: P.A. 100-781, eff. 8-10-18.)