Illinois Shines Opens for 2022-2023 Program Year, Re-Opens for Applications are not able to meet that guideline. Ethics Reporting Associated with Communications with the IPA provides more information. The credits you accrue roll over for an entire year, and you can choose from two different billing periods for your credits to get reset to zero annually. The new SREC program continues to use the Adjustable Block format and the SREC price is set by block. Below is the states definition of a qualified person:A person who performs installations on behalf of the certificate holder and who has either satisfactorily completed at least five installations of a specific distributed generation technology or has completed at least one of five listed programs requiring lab or field work and received a certification of satisfactory completion. She is passionate about making clean energy more accessible to everyone and has worked in clean energy communications since graduating from the University of New Hampshire with a Bachelors in Business Administration. RECs may be sold to the utility for meeting the State's Renewable Portfolio Standards. Solar projects serviced by Ameren Illinois, MidAmerican, Mt. The Illinois Power Agency determines the cost of the block price value. You may participate as a subscriber to a community solar projecta large, centralized solar project for which you subscribe to a share of its output. It allows residents with household incomes below 80% of the median to get PV panels installed for no upfront costs. Solar Renewable Energy Credit (SREC) Residential: REC's are a state incentive, whose value is equal to the solar energy you produce over 15 years times the price set by the Illinois Power Agency for REC's. Renewable Resources Enter your zip code to see solar quotes near you. Visit energyequity.illinois.gov to learn more. For your system, the value is 7.1 cents/kWh produced, which is paid in year one. It credits all solar customers for solar production, and those energy credits can then be sold for a profit. Solar is hot in Illinois! You may participate in Illinois Shines in one of two ways: Whether you are planning to install solar on your property or subscribe to a community solar project, you must work with an Approved Vendor who will either submit your solar system to the Program or register your community solar subscription with an already established Community Solar project in the Program. Under the Adjustable Block Program, this system falls into the Small DG category. Solar Professional Resources If you later change your electricity supplier, you will need to re-enroll in net metering with your new supplier. If you own your home array and can take advantage of the states robust SREC market, Illinois is a great place to go solar. Solar system owners can create SRECs from the energy produced by their solar panels and arrays. But, most people wont qualify unless they already have solar installation experience. Lets assume this is your solar panel system and it generates six SRECs a year. For the average Illinois resident, this solar program yields around $12,600 over the life of their system! The homeowner, in turn, enjoys solar panels and the energy that they generate at a low cost. owners for the countless benefits to Illinois. updated article on the cost of solar panels, solar renewable energy certificate (SREC), rebates for commercial and industrial (C&I) customers, The Special Assessment for Solar Energy Systems, See the complete list of top solar installers in Illinois. Illinois has a very favorable net metering program that helps bring down effective energy costs. Renew Your Membership Browse approved vendors here. If that does happen, and the state doesnt set a new RPS goal, the likelihood is that net energy metering will either no longer be available or will drop to a less beneficial avoided-cost rate. Additionally, SRECs help bring a cleaner and diversified electrical power system to the state of Illinois. RPS Timeline FEJA established the incentive structure known as the Adjustable Block Program (ABP), also known as the Illinois Shines program. To receive the rebate, your solar panel system cannot be larger than 2,000 kW in capacity. The state has a local SREC market where your credits can be sold. Register for free to start comparing quotes. Solar panels harness the energy from the sun and convert it into electricity. Renewable Energy Credit (REC) is a tradable, environmental asset that This program allows you to make full use of your own solar energy system, giving you more control over your energy costs. The DG Project Developer must utilize an installer for the project who is certified by the Illinois Commerce Commission (ICC). Even if you arent quite ready to make your solar purchase, these Illinois solar rebates and incentives are sure to make the case for why solar is a smart decision in the Land of Lincoln. Illinois Solar Industry Data, RPS Legislation The ABP features capacity-based blocks set at predetermined prices for 15-year REC contracts. This technically wont cost you anything since you can take the taxes out of the lump sum payment you get. From there, each category is further divided by the size of the solar installation; if your installation produces less than 25 kW you fall into the Small DG category, whereas the Large DG, Traditional Community Solar, Community-Driven Community Solar, and Public School categories all range from 25 kW up to 5,000 kW. Any credits can be used to offset Basic Generation Service costs, meaning youll still pay a bill with connection fees and other administrative charges. Payments are usually sent out as a lump sum for systems under 25 kW (most residential systems) or over a 5- or 7-year period for bigger systems and commercial projects. Solar Ambassadors The state of Illinois has a renewable portfolio standard (RPS) that commits the state to produce 25 percent of its electricity from renewable energy by 2025. For the average residential system, this comes out to more than $10,000 in additional savings. The price drop between blocks is 4%. For the latest info see our blog post. This is a massive amount of money to put toward your system costs for minimal effort on your part. For size comparison, a 1,000 kW, or 1 MegaWatt (MW) community solar plant would require around 3 to 5 acres and 2 MW potentially up to 10 acres. On 9/15/21 the Climate & Equitable Jobs Act was approved which includes new funding for the Illinois Shines SREC program. Business Memberships Net metering, also called net energy metering (NEM), is a billing policy that is mandated in many states by the local Public Utilities Commission (PUC). This Act included significant changes to the Adjustable Block/Illinois Shines program. New pricing is set to be announced in August, 2022, but prices have typically ranged from around $37 to $76 per SREC. Essentially, you can generate additional income from the power that your panels produce in order to help the state meet the solar requirement. An SREC is a REC that specifically comes from a solar system. Community Solar Subscriber: A person who (i) takes delivery service from an electric utility, municipal utility, or rural electric cooperative, and (ii) has a subscription of no less than 200 watts to a community renewable generation project that is located in the utilitys service area. Click below and use our process to receive multiple quotes instead: Connect with approved solar installers in your area. Leigh Matthews is a sustainability expert and long time Vegan. Homeowners Take control of your power bill, become more energy independent. We can educate you on all the current state rebates and credits around the red hot SREC program, exclusively available in Illinois. Incentive values vary based on estimated solar production, the size of your solar installation, your utility company, and more. What Illinois Residents Need To Know About SRECs? Recent Posts. energy projects,emissions mitigation and management,GHG Emissions As per the current law, credits carry over month to month until the end of the billing year, whereupon they expire. This includes installers, marketing firms, lead generators, and sales organizations. SRECs accrue as solar electricity is generated and are typically paid out either as a lump sum or over a 7-year period. This means most homeowners with a 6 kW array could earn around $360-$750 each year for their SRECs in Illinois. No, there are currently no plans for incentives to become less beneficial in Illinois in the next two years. The Agency's activities related to the development of new renewable resources to support the Illinois renewable Portfolio Standard are guided by the Long-Term Renewable Resources Procurement Plan. System: A solar photovoltaic array and all associated equipment necessary for its generation of electricity and connection to the distribution grid. Her work on solar policy has been published in Canada's National Observer. That would mean less credit for each kWh you pass to the grid, which translates to fewer long-term savings. With the new SREC program, its a bit different the current SREC program lasts for a longer duration, and the price you receive for each SREC is fixed and dependent on your utility company, system size, and how soon you go solar. In most cases, home improvements that make your home more valuable also push your taxes higher since your taxes are based on your overall home value. These credits work similarly to the federal solar tax credit. Residential Solar Incentives (Small/14-unit buildings) ($/REC) To encourage Energy Sovereignty, an additional $10 per REC would be added for projects that result in ownership by the customer, such as through an early buyout of a lease or PPA. For reference, a residential solar project in Illinois is usually around 7kW and would be considered a small DG project. This guarantees clean energy savings. ENERGYSAGE is a registered trademark and the EnergySage logo is a trademark of EnergySage, Inc. Other trademarks are the property of either EnergySage, Inc. or our licensors and are used with permission. Learn more about what a REC is here: https://vimeo.com/113250210. Wall-Mounted Solar Awnings & Solar Patios, Interconnection & Netmetering Considerations, Small Distributed Generation (DG) from 0 to 25 kW (AC), Large Distributed Generation (DG) from >25 kW up to 2,000 kW (AC). Please enable scripts and reload this page. We recommend using the money earned via your credits to: Selling your SRECs on the local market is easier to do than you might think, as its automatic for most homeowners. If you are deemed a qualified person as defined by Illinois Administrative Code 83 468.20, then yes! All credits are automatic, provided you have the right electric meter, and a new one will be provided for free even if you dont have a bidirectional meter. The ILSFA program is an outstanding option for aspiring solar customers who cannot pay for their systems in cash or qualify for a loan or lease. With these incentives in the works, its a great time to start evaluating your solar options. As of right now, there are no near-term changes to incentives in Illinois planned, which is good news for solar customers. Please be aware that state ethics rules may require that some communications be reported to the Procurement Policy Board. On Sept. 15, 2021, the Climate and Equitable Jobs Act (Public Act 102-0662) was signed into law by Illinois Governor J.B. Pritzker. Illinois SREC incentives are managed under the Adjustable Block Program. One Illinois SREC equals 1,000 kilowatt-hours (kWh) of solar energy generated, or one megawatt (MWh). Call us at (773) 812-3447 for more information on SRECs. Net energy metering is the second-best perk available to Illinois homeowners, in our opinion.