As previously announced on March 1, 2023, the Illinois Power Agency is exploring updating the methodology/model the Agency uses to calculate REC prices, starting with REC Prices for the 2024-2025 program year. In the 2022 Long-Term Plan, the IPA committed to engaging an independent consultant to conduct a review of the REC pricing approach for the Illinois Shines and ILSFA programs. The Agency has engaged Sustainable Energy Advantage, LLC (“SEA”) to conduct that review.
SEA has now released three documents for stakeholder review.
- A Request for Written Comments
- A presentation, “Illinois ABP and SFA REC Pricing Policy Design Issues, Options, and Implications”
- A presentation, “Key Inflation Reduction Act (IRA) Changes Relevant to ABP and SFA-Eligible Projects”
The Request for Written Comments contains questions based off of the two presentations. Written responses are due Tuesday, March 28, 2023. Please see the Request for Written Comments for information on how to respond.
SEA will be holding a workshop on Tuesday, March 14, 2023, 1-3 p.m. CT, for stakeholders to discuss REC pricing policy issues, options, and implications. Please use the link below to register for the webinar.
Review of Illinois Shines and ILSFA REC Pricing Approach
Date: March 14, 2023
Time: 1 p.m.-3 p.m. CT
REGISTER HERE
The webinar will include a presentation by SEA followed by an opportunity for Q&A and discussion.
In addition, as a separate process, the IPA is seeking feedback on proposed REC prices for the 2023-2024 program year. Responses are due March 24, 2023.