trending Market Intelligence /marketintelligence/en/news-insights/trending/pwSgZ2PU4pcvppy0_yD30A2 content esgSubNav
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us
In This List

Illinois regulators approve purchase of solar RECs

Q3: U.S. Solar and Wind Power by the Numbers

Path to Carbon-Free Power Generation by 2035

The Growing Importance of Data Centers for European & U.S. Renewable Projects

CAISO and ERCOT Power Forecasts by the Hour

Illinois regulators approve purchase of solar RECs

Illinoisregulators on April 4 approved the state's purchase of solar renewable energy creditsfrom eight suppliers.

Statelaw directed the Illinois Power Agency to conduct up to four procurements for thecredits, known as SRECs, and to spend up to $30 million in total. Each round ofprocurements requested proposals for SRECs derived from solar-powered generatingsystems of varying sizes. The procurement that ended March 31 was for $15 millionof SRECs.

In astatement, the Illinois Commerce Commission said suppliers offering a total of 91,770MWh of SRECs were awarded five-year contracts. Generating units had to be "new,"meaning they had run for at least 24 consecutive hours on or after Jan. 21, 2015.

Suppliersrepresenting three size classes of solar photovoltaic systems were awarded contracts.Generators of 25 kW or smaller offered 44,312 MWh of SRECs at an average price of$230.98/MWh, the commission said. This size category includes prospective generatingsystems at sites yet to be identified. Generators between 25 kW and 500 kW offered5,517 MWh of SRECs at an average price of $108.60/MWh, while generators between500 kW and 2 MW offered 41,941 MWh of SRECs at an average price of $99.32/MWh.

The powerauthority will pay for the SRECs as they are delivered, using money from its renewableenergy resources fund, the commission said.

Two previousrounds of procurements were held in 2015. The first round, in June, awarded $5 millionin SRECs, and the second round, in November, awarded $10 million. A fourth roundmay be held in early 2017 if there is any unspent money left, the commission said.

The selectedsuppliers are Carbon Solutions Group LLC, Clean Energy Design Group Inc., Day &Night Solar, IL-Solar Inc., Performance Services, REC Trade LLC, SRECTrade Inc.and VGI Energy Solutions Inc.