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ILLINOIS RENEWABLE ENERGY CERTIFICATE (REC) PROCUREMENTS

What is a REC?

A Renewable Energy Credit (“REC”) is a tradable, environmental asset that represents the clean attributes of solar electricity. (1 REC = 1,000 kWh) This opportunity is different than a net metering agreement with the utility where system owners are credited for excess generation. RECs are valued for the total energy production from an array and therefore represents the carbon or pollution avoided from the grid.  RECs are a way to track and monetize these environmental benefits and compensate owners for the countless benefits to Illinois.  

The IPA requires that procurement bids meet a minimum of 1MW of installed capacity. These can be single projects or bundled together to meet that threshold.  Small projects can work with 3rd party aggregators if they are not able to meet that guideline.  ISEA recommends system owners work through their installer or contact the two preferred national companies listed below: Carbon Solutions Group or SRECTrade.   The procurement functions similar to an auction and bids are reviewed based on system size and price.  The IPA has a target that 50% of the RECs procured are from systems <25kW and will evaluate bids below a confidential benchmark. 

Watch this helpful video on RECs from the Center for Resources Solutions for further explanation. Details from past DG procurement events including winning bid prices are listed on the IPA website.

Adjustable Block Program Pricing 

After several years of effort from the renewable energy community, environmental advocates and economic/social justice organizations, the state has passed comprehensive legislation that will accelerate clean energy adoption in Illinois. The legislation will allow for the advancement of wind and solar through various procurement events and a Long Term Plan for DG solar procurement (systems <2,000kW) through 2030.  The Long Term Plan includes provisions for community solar and brownfield development as well as an Adjustable Block Program (ABP) for REC procurement. Block 1 incentives for the ABP were released June 4th, 2018. See below for prices. Group A includes territories in Ameren, MidAmerican, Mt. Carmel, and Rural Co-Ops and Munis in MISO. Group B includes territories in ComEd and Rural Co-Ops and Munis in PJM. Visit the IPA website here for further details.

UPDATE 8/5/2020

The IPA’s Revised Long-Term Plan, published by the IPA on April 20, 2020, contains several changes to Part I and Part II of the ABP project application. The Program Administrator has implemented these changes which are now live. The following are details regarding each change:

Part I Changes

  • Providing a shading study is no longer a required upload for any application. (Upload removed from Part I)
  • Language is added to the application noting that an Interconnection Agreement (IA), required for systems >25 kW AC, must be signed by both the interconnection customer and the interconnecting utility. The IA must be dated on or prior to the date of submission of the application. (Clarification of existing Part I requirement)
  • Ground-mounted systems larger than 250 kW AC must provide a land use permit from the AHJ (Authority Having Jurisdiction). If a land use permit is not applicable, the Approved Vendor must provide written confirmation from the AHJ that no permit is required. (New Part I upload)
  • Non-ministerial permits, other than the land use permit specified above for systems larger than 250 kW AC, are no longer required and have been removed from the Part I application. For those Approved Vendors and Designees that use the application CSV upload feature, non-ministerial permits have been made optional in the CSV, enabling you to continue to use the same CSV template without issue. (Uploads removed from Part I)

Part II Changes

  • The ICC Docket Number for the Certification of the DG Installer who is the installer of record is now required. (New required information in Part II)
  • For systems that include a battery, a detailed schematic must be provided showing that either only solar-generated power can be used to charge the battery or that the battery’s output does not run through the meter used to measure solar output. (New Part II upload)

Changes that apply to both Part I and Part II

  • Bifacial panels are now an option in the application. (New option for both Part I and Part II)

Should you have questions about any of these changes, please contact the Program Administrator at admin@illinoisabp.com.







Updates Included in these Prices

These prices are based upon the prices published in the REC Pricing Model Update released by the Agency on February 27, 2018, with the following adjustments:

  • Updated Ameren Illinois and ComEd transmission and supply rates, based on recently filed tariffs effective as of June 2018, for calculating net metering credits for distributed generation projects
  • Corrected treatment of the smart inverter rebate in two Illinois Solar for All sub-programs
  • Created additional price tier for co-located Community Solar projects over 2 MW in aggregate size

PREFERRED AGGREGATION COMPANIES*

www.carbonsolutionsgroup.com
Toll free: (866) 499-1456
Email: contact@carbonsolutionsgroup.com      

SPECIALTY
Environmental asset valuation, trading and energy forecasting, development of carbon and renewable energy projects, emissions mitigation and management, GHG Emissions Inventory, Green Building projects, as well as regulatory  and protocol advisory with regard to carbon emissions and renewable fuels

TRANSACTION MANAGEMENT
Online - after site upgrade is complete
(expected by mid May)

CLIENTS
Residential and Commercial Installers
Residential and Commercial System Owners
Municipalities
Utilities in a variety of settings and market conditions around the globe

PROCUREMENT
Regular Procurement
Supplemental Procurement 

PAYMENT OPTIONS
Upfront and fixed payment options with market based pricing for existing systems

www.srectrade.com
Toll free: (877) 466-4606
Direct: (415) 763-7732
Email: clientservices@srectrade.com

SPECIALTY
100% SREC transaction focus
500+ MW across 35,000+ assets under management

TRANSACTION MANAGEMENT
Online bid submission and system registration for installers and system owners.  Individualized client accounts to report production and track SREC transactions

CLIENTS
Residential and Commercial Installers 

Residential and Commercial System Owners
Corporate
Residential & Small Commercial Developers

PROCUREMENT
Supplemental Procurement Only

PAYMENT OPTIONS
SREC payments will be made (to clients)  pursuant to the rules of the Program and via  direct deposit (ACH) to a bank account of their choice

*Companies intend to be available for all procurement events. Be sure to check with your aggregator of choice to confirm their participation. 


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