On July 14, 2022, the Illinois Commerce Commission (ICC) approved the Illinois Power Agency’s 2022 Long-Term Renewable Resources Procurement Plan (2022 Long-Term Plan) with modifications.
The REC Pricing Model has been updated to reflect the modifications approved by the ICC, including adjustments to certain inputs to the model of the Illinois Solar for All (ILSFA) program. In addition, REC prices by program will also be published in the next iteration of the Illinois Solar for All Approved Vendor Manual.
Illinois Solar for All incentivizes eligible projects by purchasing the renewable energy credits (RECs) created by ILSFA-approved projects. The prices at which RECs are purchased through the program are determined by formulas approved through the update of the 2022 Long-Term Plan.
The REC Prices approved by the ICC and reflected within the REC Pricing Model are applicable for the 2022-2023 program year. For the Illinois Solar for All program, the updated model reflects the REC Pricing that will be available to all projects that receive a REC contract in the 2022-2023 program year.