Solar Renewable Energy Credits In Illinois (SREC)

What Are SRECs?

SRECs, also known as solar renewable energy credits, is a trackable certificate provided to individuals or businesses that contribute to clean energy in their state. SRECs help businesses and states meet their renewable energy requirements. Illinois Shines program is the administrator for expanding and managing solar in Illinois. 

How To Qualify For SRECS?

The first step is purchasing the solar system and making sure you can qualify for SRECs. Feel free to contact us to see if your home is eligible for SRECs in Illinois. Homeowners with solar can receive SRECs when 1,000kwh of electricity is generated from the solar system.

How Much Are SRECs worth?

In Illinois, the SRECs are calculated based on block groups and categories. Currently, Illinois is on block four, and these incentives do not last forever! The Illinois Power Agency determines the cost of the block price value. For example, if you are a homeowner in Illinois with Comed that purchases residential solar, each 1,000 kWh of electricity you produce from your solar panel would be equivalent to one SREC worth $64.56. The payout of the credits is calculated based on the homeowner's system size and the amount of electricity generated in 15 years with the solar system.

If your home's solar system size is less than 25kWh, you are eligible to receive your payment in a lump sump. SREC payouts can stall if interruptions occur during the installation process. Reach out to us to better understand the timeframe and potential value of your SRECs.

Why Are SRECs Valuable?

SREC provides renewable energy supporters a certificate proving they contributed to a greener state. SRECs provide homeowners the option to sell their certificates to utility companies. Since utility companies must meet Illinois renewable portfolio standards, utility companies will purchase these SREC certificates from homeowners. A trusted and approved vendor can manage the administrative tasks to receive the SREC credits from the utility companies. Feel free to reach out to us to learn more. 

How long will SRECs last?

The payout of SRECs is limited and is on a first-come, first-serve basis. Currently, Illinois is in block four with a lower payout than the previous blocks. It is recommended to get solar sooner than later. The payouts depend on the block price and type. Block groups A and B have different payouts due to differences in municipalities and utility providers. Feel free to contact us to get a better understanding of the timeline.