The Illinois Power Agency (the Agency) has released an update to the Renewable Portfolio Standard (RPS) REC and Budget Forecast. This RPS REC and Budget Forecast Update is the first update released by the Agency since the publication of the 2024 Long-Term Renewable Resources Procurement Plan (the 2024 Long-Term Plan) in April 2024 and includes updated versions of the tables and figures related to the REC portfolio and the RPS budget.
This update also provides a discussion of uncertainties in estimating future RPS expenditures, which provides additional context for the RPS budget related to future activities authorized in the 2024 Long-Term Plan and those potentially authorized through future Long-Term Plans. The Agency plans to release the next update of the REC and Budget forecasts in January 2025 after the conclusion of the next Indexed REC procurement.
Stakeholders are encouraged to review the full RPS REC and Budget Model which allows users to change assumptions and see how those inputs would impact future RPS budget availability. Any questions regarding the RPS Budget Model and how to update inputs may be sent to IPA.ContactUs@illinois.gov.