So You Wanna Be a Solar Superhero in Illinois? All About SRECs (and Why They're Not Socks for Your Sun Panels)
Living that green life and harnessing the power of the sun with solar panels? That's fantastic! But did you know you can basically become a solar superhero in Illinois and get rewarded for it? Enter the mysterious world of SRECs! Now, don't worry, SRECs are way cooler than they sound (and they're definitely not special socks for your sun panels).
 |
| What is The Srec Program In Illinois 2023 |
SRECs: Turning Sunshine into Superhero Cash!
SREC stands for Solar Renewable Energy Certificate. Basically, for every megawatt-hour (MWh) of electricity your solar panels are expected to generate over 15 years, you earn one SREC. Think of it as a gold star from the sun for being awesome! These SRECs can then be sold on the market, putting some extra green (pun intended) in your pocket.
Here's the thing: Illinois has a Renewable Portfolio Standard (RPS). This means utility companies gotta get a certain amount of their electricity from renewable sources like, you guessed it, solar power! And that's where you, the solar superhero, come in. Utility companies can buy your SRECs to help them meet their RPS goals. It's a win-win! You get paid for your solar power production, and they get to be eco-champions.
But wait, there's more! The price of SRECs fluctuates depending on supply and demand. The good news? The earlier you jump on the solar bandwagon, the higher the SREC price you might lock in.
Tip: Keep the flow, don’t jump randomly.
However, there is a bit of a bummer. The block for small systems under 25 kW (most residential systems) is currently full for 2023-2024. Don't fret though, solar superhero! You can still get on the waitlist for the next program year.
So, How Much Cash Can My Solar Cape Earn Me?
Well, that depends on the SREC price, which can change year to year. In 2023-2024, the price hovered around $75 per megawatt-hour. Every 1,000 kWh (which is roughly what the average Illinois rooftop solar system generates in a month) earns you one SREC. So, do the math and see how much of a solar superhero you can be!
Important Note: Remember, this info is for 2023. SREC prices and program details can change, so be sure to check the Illinois Power Agency's website [Illinois Power Agency (.gov)] for the latest updates.
Tip: Reread if it feels confusing.
Frequently Asked Solar Superhero Questions:
How to find out if I'm eligible for SRECs?
Contact your local solar installer or the Illinois Power Agency [Illinois Power Agency (.gov)] for the latest program details.
 |
How to sell my SRECs?
QuickTip: Use posts like this as quick references.
Many solar installers can help you sell your SRECs on the market.
How to become a full-fledged solar superhero?
Install solar panels, rock that eco-friendly lifestyle, and spread the word about renewable energy!
QuickTip: Reread for hidden meaning.
How to avoid confusing SRECs with special solar panel socks?
Easy! SRECs put money in your pocket, while special solar panel socks (which don't exist) would probably confuse your roof.
How to learn more about Illinois solar incentives?
There are many resources available online, including the Illinois Power Agency website [Illinois Power Agency (.gov)] and the websites of solar panel installers in your area.
 |
