Solar Renewable Energy Credits (Illinois)
This is the approved revision of this page, as well as being the most recent.
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Solar Renewable Energy Credits|
|Incentive Type||Performance-Based Incentive|
|Applicable Sector||Commercial, Residential, Nonprofit, Local Government, Construction, State Government, Fed. Government, Agricultural|
|Energy Category||Renewable Energy Incentive Programs|
|Amount||Negotiated with procurement administrators|
|Maximum Incentive||Benchmarks set by procurement administrators|
|Program Administrator||NERA Economic Consulting (ComEd); Levitan and Associates (Ameren)|
In August 2007, Illinois enacted legislation (Public Act 095-0481) that created the Illinois Power Agency (IPA). The agency’s purpose is to develop electricity procurement plans for investor-owned electric utilities (EUs) supplying over 100,000 Illinois customers to ensure “adequate, reliable, affordable, efficient, and environmentally sustainable electric service at the lowest total cost.” The only EUs that meet these criteria and are therefore subject to the IPA procurement process are Commonwealth Edison (ComEd) and the Ameren Corporation companies (AmerenCILCO, AmerenIPL, and AmerenCIPCO).
The IPA plans and administers the competitive procurement processes that result in bilateral agreements between the utilities and wholesale electric suppliers. The procurement plans must include procurement of cost-effective renewable energy resources per the Renewable Portfolio Standard (RPS) requirements, outlined here. The RPS includes a solar requirement to be met with solar renewable energy credits (SRECs) with benchmarks beginning in Energy Year June 2012-May 2013. Each SREC represents the environmental attributes associated with 1 megawatt-hour of energy produced from solar energy. Selected suppliers are required to utilize either the PJM-EIS-GATS, M-RETS, or NARR tracking system.
In October 2011, the legislature passed S.B. 1652, which requires the IPA to conduct a procurement event for the acquisition of renewable energy credits (RECs) for the period of June 1, 2013 to December 31, 2017. This procurement process will take place throughout calendar year 2012. If needed, future procurement processes will be administered through the program administrators.
The procurement process for Ameren is administered by Levitan and Associates here. REC bids for 2012 were due in May 2012. Ameren is seeking SRECs per the schedule outlined below.
Authorities (Please contact the if there are any file problems.)
|Authority 1:||§ 220 ILCS 5/16-115D|
|Authority 2:||§ 20 ILCS 3855/1-75|
|Authority 3:||S.B. 1652|
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.