Illinois SB1277 mandates solar installers to post a surety bond to ensure warranty and rebate obligations are met.

SB1277 amends the Illinois Power Agency Act to require companies providing solar installation services to post a surety bond with the Illinois Power Agency. The bond amount is initially set at $2,000,000 and can be adjusted annually. The bond ensures that warranty obligations to customers and rebate payments owed by the company are met, even if the company closes or files for bankruptcy. The bond amount is adjusted annually starting one year after the Act's effective date.

Illinois SB1277 mandates solar installers to post a surety bond to ensure warranty and rebate obligations are met.

SB1277 amends the Illinois Power Agency Act to require companies providing solar installation services to post a surety bond with the Illinois Power Agency. The bond amount is initially set at $2,000,000 and can be adjusted annually. The bond ensures that warranty obligations to customers and rebate payments owed by the company are met, even if the company closes or files for bankruptcy. The bond amount is adjusted annually starting one year after the Act's effective date.