Solar is hot in Illinois! Weve also unbiasedly ranked and reviewed hundreds of solar installers to empower you to make the right choice for your home. Large Distributed Generation Large DG): A distributed generation system larger than 10 kW, up to 2 MW. 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. Illinois Power Agency Energy Workforce Equity Portal The portal is an online source designed to help connect clean energy companies with Equity Eligible Persons looking to work in the clean energy sector in Illinois. Specifically, Section 10-10 of the Illinois Property Tax Code states that homeowners who install solar can file an alternate valuation of their home improvements with the chief county assessment officer. The SREC program provides a means for Solar Renewable Energy Certificates (SRECs) to be created for every megawatt-hour of solar electricity created. The SREC is sold separately from the electricity and represents the "solar" aspect of the electricity that was produced. Note that the SREC program in Illinois is designed to incentivize ongoing decreases in the cost of going solar in the state. This Act included significant changes to the Adjustable Block/Illinois Shines program. Sign up for our email newsletter! Additionally, eligible nonprofits and public entities can apply for the Illinois Solar for All program, which aims to promote access to the benefits of solar through program incentives. 1.877.697.9269. Across the country, NEM is one of the most beneficial incentives available for solar customers. If youre looking for a quote contact us today by phone or via our contact us page! Small Subscriber: A residential or small commercial customer with a subscription below 25 kW. Illinois Shines Resumes Acceptance of Traditional Community Solar Project Applications. Your payback time is greatly reduced. Dont forget about federal solar incentives! Karsten is an editor and energy specialist focused on environmental, social and cultural development. This means that any value added to your home by installing solar is not factored into property assessments and associated property taxes. In Illinois, the credit averages out to $6,143. Utilities are only required to issue SREC payments quarterly, so the time it takes to receive your check varies. Please note this is an incentive which is subject to tax. This is an outstanding program for those who qualify and cannot afford to convert to solar using other payment methods. You can answer some questions yourself, while others can be answered by your installer or sales agent. Please contact our Customer Care Center if you have questions. Utilities must offer retail rate net metering in Illinois, with the exception of cooperatives or municipalities. Municipal & County Resources (Same as Project). Phone. On July 1, 2022, Energy Solutions became the new Program Administrator for Illinois Shines. Spots Are Already Being Taken By Illinois Homeowners. Learn more about what a REC is here: https://vimeo.com/113250210. Concerned about climate change? All applications to the Adjustable Block Program must be submitted by an approved vendor, which includes solar installers, project developers, and SREC brokers and aggregators. For the latest info see our blog post. 105 West Madison Street, Suite 1401 Chicago, Illinois 60602, A calendar of procurement events can be accessed on. The net energy metering program in Illinois is outstanding, even compared to similar programs in other states. Illinois SREC incentives are managed under the Adjustable Block Program. Assuming you have an average system installed and typical energy bills for the area around $93.98 and your panels generate enough to offset 50% of your bill, this program could save you an average of $11,277 over the first 20 years of the panels lifespan. It does not appear on display pages. Her work on solar policy has been published in Canada's National Observer. Above, weve discussed all of the incentives available to Illinois property owners. The tax exemption prevents the value of your solar panel system from contributing to your tax-assessed value. What Illinois Residents Need To Know About SRECs? Solar House We use cookies to ensure that we give you the best experience on our website. Carmel, Rural Electric Cooperatives, and Municipal Utilities located in MISO belong in Group A; Commonwealth Edison (ComEd), and Rural Electric Cooperatives and Municipal Utilities located in PJM belong in Group B. With one credit earned each month, thats an average of $840 per year your system will earn you. For reference, large DG systems are usually hosted on larger buildings or roofs, not residential properties. An SREC is a REC that specifically comes from a solar system. Welcome to the Illinois Power Agency (IPA) Energy Workforce Equity Portal The portal is an online source designed to help connect clean energy companies with Equity Eligible Persons looking to work in the clean energy sector in Illinois. Aegis Construction Group is an Illinois state-approved solar energy system vendor. are not able to meet that guideline. listed below: Carbon Solutions Group or SRECTrade. Is IL proposing increasing incentives for rooftop solar in the next 24 months? At that time, youll be paid a lump sum for all of the credits you accrued. The new SREC program continues to use the Adjustable Block format and the SREC price is set by block. NT, is a health and wellness writer and long-time vegan, environmentalist, and zero-waste, self-sufficiency wannabe. Illinois has a very favorable net metering program that helps bring down effective energy costs. Illinois has two main solar policies that will have the biggest financial impact on your investment: Under the Adjustable Block Program, also known as Illinois Shines, you can earn one solar renewable energy certificate (SREC) for each megawatt hour (MWh) of electricity your solar system produces over 15 years. Otherwise, youre paying to produce energy for which the utility wont compensate you. 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. Combined with our proprietary energy savings program we provide Illinois businesses . The State operates on a fiscal year basis ending on June 30 th of each year. Illinois has an SREC program called the Adjustable Block Program, orIllinois Shines. How do you file for the federal tax credit in Illinois to get the full value? The homeowner, in turn, enjoys solar panels and the energy that they generate at a low cost. The Program provides payments in exchange for 15 years of Renewable Energy Credits ("RECs") from a utility contracted to buy the RECs from your Approved Vendor. Program Administrator: The IPAs subcontractor responsible for running day to day operations of the Adjustable Block Program. Solar Ambassador Program Community Solar: A solar project which (1) is interconnected to an electric utility, a municipal utility, or a rural electric cooperative, (2) allows subscribers to pay for shares or some other interest in the project, receiving bill credits in exchange; and (3) does not exceed 2,000 kW AC in size. All Rights Reserved. That would mean less credit for each kWh you pass to the grid, which translates to fewer long-term savings. SREC Incentive Overview and Status as of March 31, 2021The solar renewable energy credit (or "SREC") has been an exceptional Illinois solar incentive available through the Illinois Shines program. What are the best rebates and incentives to take when converting to solar in Illinois? The IPA (Illinois Power Authority) has in the past bought SRECs in "procurement rounds". 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. Interconnection Agreement: An agreement with the utility to interconnect the photovoltaic community solar or distributed generation system to the utilitys distribution system. This dedicatedCEJA implementation pageserves as an up-to-date hub of information for those items from the Act being implemented by the Agency. The state set a specific amount of installed solar (in megawatts, MW) and an associated SREC price for each block. Types of Approved Vendors Distributed Generation Installer ("DG Installer"): A DG Installer also has received certification from the Illinois Commerce Commission ("ICC") to perform distributed generation installations. 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. A s an example, if someone installs an 8kw sized solar system that produces 10,000 kWh of power annually, in Illinois, that customer would receive around $12,000. This Act included significant changes to the Adjustable Block/Illinois Shines program, including the reopening of the program within 90 days (December 14, 2021). Ultimately, these Illinois solar incentives help stimulate development of new renewable energy resources. Thats because the summer months are usually the highest production months for home solar. Details from past DG procurement events including winning bid prices are listed on the IPA website. payments will be made (to clients)pursuant to the rules of the You may host a new solar photovoltaic system on your rooftop or on your property, directly offsetting your energy usage; or. How much power will a solar system on my roof generate? That means that every kilowatt-hour (kWh) you generate and send to the grid will offset one kWh you pull from the grid when your panels fail to produce enough energy for your home like at night or on cloudy days. Additionally, SRECs help bring a cleaner and diversified electrical power system to the state of Illinois. The Illinois Solar for All (ILSFA) Program is an excellent option for low-income households to convert to solar power. Learn actionable tips for making each room in your home greener. Its worth mentioning that tax software like HR Block and TurboTax know about this incentive and typically ask you when you go to file if you installed renewable energy equipment. This incentive structure is very similar to the Megawatt Block rebate available in New York State, as well as the SMART incentive in Massachusetts. Its a perfect incentive for businesses, farms, homes, non-profits, government buildings, others to take advantage of. New customers should review the ABP Program Brochure for general program information. We should note that the federal solar tax credit rate is scheduled to drop over the next ten years, according to the schedule below: Following 2034, the program will no longer be available. These brokers will pay property owners for their SRECs on a quarterly basis over the course of five years, and sell the SRECs to the IPA during the specified procurement rounds. tradingand energy forecasting, development ofcarbon and renewable 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. If you live in Illinois and are considering investing in a solar energy system for your home, heres some great news for you: your state offers myriad solar incentives to help you out. Enter your zip code to see solar quotes near you. When you have a solar system and are being billed for net metering, you are charged only for the net amount of energy you use during each billing period (i.e., the amount of energy we deliver to you minus the excess amount you send back to the smart grid). If your project is on the waitlist first seeking confirmation of funding, now is the time to move forward. Enter your zip code to find out what solar panels cost from installers near you. The idea is to boost Illinois solar investments by increasing their monetary value in addition to offering savings on electricity bills. For each megawatt hour (MWh) of electricity your solar system produces, you will be granted one SREC. Want to find the best deal on solar in all of Illinois? Homeowners get one SREC for. The quotes would include current incentives available in your area. For solar energy customers, the April settlement date will likely make more sense than the October date. Whether youre already a proud owner of a solar array system or youre thinking about making the solar investment, contact us today to learn more. Before joining EcoWatch, Karsten worked in the solar energy sector, studying energy policy, climate tech and environmental education. The incentive is called a Solar Renewable Energy Credit (SREC), and its administered by the Illinois Shines Program. Were big fans of SREC programs because they credit you for all of your solar production, regardless of what you do with the energy. Part I approval results in an ICC approved contract with one of the distribution utilities. The rate will drop in 2033, but solar customers were given an additional decade to take advantage of the credit. But, most people wont qualify unless they already have solar installation experience. 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. 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. The Program provides payments in exchange for 15 years of Renewable Energy Credits (RECs) from a utility contracted to buy the RECs from your Approved Vendor. If you own your home array and can take advantage of the states robust SREC market, Illinois is a great place to go solar. System: A solar photovoltaic array and all associated equipment necessary for its generation of electricity and connection to the distribution grid. His work has been shared by sources including NPR, the World Economic Forum, Marketwatch and the SEIA, and he is certified in ESG with the CFA Institute. Mid-American also offers net metering and allows for a shorter than 12 months initial billing period. The PUC mandates that all excess energy be credited at the full retail rate, which gives you the best chance of eliminating your utility bills. Still, we love programs like this because it makes renewable energy far more accessible. RECs are a way to track and monetize these environmental benefits and compensate owners for the countless benefits to Illinois. Learn More. RPS Timeline way to track and monetize these environmental benefits and compensate Renewable Energy Credit (REC) is a tradable, environmental asset that Renew Your Membership To learn about any incentives you may qualify for, launch our You wouldnt buy a car without comparing a few options first. The best way to compare your solar options and save money at the same time is by registering on the EnergySage Marketplace. A lover of music and the outdoors, Karsten might be found rock climbing, canoeing or writing songs when away from the workplace. Under the Adjustable Block Program, this system falls into the Small DG category. Give us a call today to learn more from our experts and how this may potentially be a great opportunity for your solar power system. This Act included significant changes to the Adjustable Block/Illinois Shines program. Top brands in 2023, REC pricing for the 2022-2023 program year. Commonwealth Edison offers the top utility net metering program in Illinois. The SREC program in Illinois called the IL Solar Shines Program credits you for all solar power you produce with your system. In our opinion, the federal credit is the best and most valuable incentive available in Illinois. The IPA and the Program Administrator are providing updates on these programmatic changes and the process of reopening the program as they develop. ISEA recommends system owners work As of right now, there are no near-term changes to incentives in Illinois planned, which is good news for solar customers. Want to know more about the Illinois Solar Renewable Energy Credit Program? The kind of credits you get each month for surplus energy depends on the price you pay for energy from ComEd and whether you received the utilitys commercial distributed generation rebate (not currently available for residential arrays). Illinois Shines is the brand name for the Adjustable Block Programa state-administered incentive program supporting the development of new solar energy generation in Illinois. The document titled "2022 Long-Term Renewable Resources Procurement Plan" below provides information pertaining to the Renewable Energy Credit (REC) program. Visit energyequity.illinois.gov to learn more. For commercial customers, this is paid out over 5 years, and the REC value varies based on the size of the solar system. New pricing is set to be announced in August, 2022, but prices have typically ranged from around $37 to $76 per SREC. Designee: Third-party (i.e., non-Approved Vendor) entities that have direct interaction with end-use customers. Events SRECs accrue as solar electricity is generated and are typically paid out either as a lump sum or over a 7-year period. This program is undergoing some changes in the summer of 2022, but the basic premise remains the same: home solar producers can earn 1 SREC for every MWh of electricity produced by their systems and can sell these to earn additional income. SRECs are a great way for businesses and nonprofits to generate savings in Illinois. 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). Agency: The Illinois Power Agency who developed and manages the Illinois Shines program through its subcontractor, Energy Solutions. RECs may be sold to the utility for meeting the State's Renewable Portfolio Standards. Its possible that the future holds a less appealing avoided-cost rate for excess energy in Illinois or no compensation at all. In Illinois, all applications to the ABP program must be submitted by an approved vendor, meaning you wont work directly with your utility to receive your SREC payments.