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. REC prices are determined through the Adjustable Block Program.

The Illinois Power Agency (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.

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

On September 15, 2021 Governor Pritzker signed the Climate and Equitable Jobs Act (Public Act 102-0662) (CEJA). This Act included significant changes to the Adjustable Block/Illinois Shines program, including the reopening of the program within 90 days (December 14, 2021). The IPA and the Program Administrator are providing updates on these programmatic changes and the process of reopening the program as they develop.

The IPA website is regularly updated with new information about the ABP. For the current guidebook for the Adjustable Block program, please click here. REC prices can be found on page 180 of the Final 2022 Long-Term Renewable Resources Procurement Plan released in August 2022.

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.