The Illinois Commerce Commission announced the successful bidders for the sale of solar renewable energy credits (SRECs) to the State of Illinois on Thursday, with the average winning price at $162.45 per megawatt-hour, or 16.345 cents per kilowatt-hour.
The bids were received by NERA Economic Consulting, the procurement administrator for the Illinois Power Agency, and the event was monitored by the Boston Pacific Company. The bidding process is required by the Illinois Power Agency Act, Section 1-56(i), and the Supplemental Photovoltaic Procurement Plan, and overseen by the Illinois Commerce Commission.
This was the third bidding event held. The Supplemental Photovoltaic Procurement Plan required at least three to four bidding events totaling $30 million for SRECs obtained from photovoltaic generating systems of various operational sizes – under 25 kW, 25 to 500 kW, and 500 kW to 2 MW. Only newly operational facilities with 24 consecutive operational hours on or following January 21, 2015, were allowed to bid.
The winning suppliers for the March bidding event were Carbon Solutions Group, LLC; Clean Energy Design Group, Inc.; Day & Night Solar; IL-Solar, Inc; Performance Services; REC Trade, LLC; SRECTrade, Inc.; and VGI Energy Solutions, LLC.
The funding for the SRECs will be drawn from the Illinois Power Agency Renewable Energy Resources Fund.
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