If you are interested in converting your property to solar energy, you may be wondering what is the Illinois Shines program? The state of Illinois created the program as an incentive for homeowners, farm owners, or businesses like yours to switch to renewable energy. This solar policy will have a significant financial impact on your investment in solar energy. Please continue reading to find out more details about the program.
The History and Legislative Roots of Illinois Shines
The story of Illinois Shines begins with the Future Energy Jobs Act (FEJA), landmark legislation signed into law in December 2016 by then-Governor Bruce Rauner. This act set the stage for sweeping reforms in the state’s approach to clean energy, tasking the Illinois Power Agency with the creation of a program that would make solar adoption more accessible and impactful for property owners like you.
Initially, this initiative went by the rather technical name “Adjustable Block Program” (or ABP, for short). The core idea was straightforward: Illinois utilities would purchase renewable energy credits from solar producers at predetermined rates, gradually adjusting prices as more solar capacity came online. Each of these credits signifies a megawatt-hour of clean electricity generated—real, measurable progress toward a greener Illinois.
To better capture its mission, the program was soon rebranded as Illinois Shines. And the state’s commitment to renewable energy didn’t stop there. In 2021, Governor J.B. Pritzker and the Illinois General Assembly reinforced and expanded the program through the Clean Energy Jobs Act (CEJA), ensuring even stronger support and incentives for solar energy in the years to come.
The Benefits of the Illinois Shines Program
Illinois Shines is the official name of the adjustable block program created by the state of Illinois to encourage a conversion from electricity to solar panels. With this program, you can receive one solar renewable energy credit (SREC) for each megawatt hour (MWh) of electricity produced by solar panels you own. Why is that important? You can sell these credits back to utility providers to create big savings over your current energy costs on the grid. On average, a residential solar system over a 20-year span can help a homeowner save between $21,500 to $29,000.
Estimating Your Illinois Shines Incentive
Now that you know about the financial benefits of SRECs, you might be asking: how do you figure out exactly what your incentive will be? The process is straightforward but involves a few important steps to ensure you get the maximum benefit.
Here’s what you need to know:
- Work with an Approved Vendor: The state requires you to apply through an Approved Vendor. These companies know the ins and outs of the program and handle paperwork and submission to the Illinois Shines Program on your behalf.
- Site Assessment: Your chosen solar provider will first assess your property. This involves reviewing your available roof (or land) space, sun exposure, and your typical energy usage.
- System Size and Expected Production: Based on this assessment, the solar company will design a system tailored to your needs. They’ll estimate the total amount of electricity your system is expected to generate each year, measured in megawatt hours.
- Incentive Calculation: The number of SRECs you can earn (and, by extension, the total incentive) depends on your system’s projected production. Each megawatt hour earns one SREC, and the value per SREC is determined by the Illinois Shines program and the current block incentive rate.
- Proposal Review: Your solar company will provide a proposal that outlines anticipated SREC payments, estimated savings, and your net cost after incentives.
By working with an experienced local solar provider who partners with approved vendors in Illinois, you can get an accurate estimate of your incentive—and maximize your solar savings.
How Is the Value of SRECs Calculated for a Solar System?
When you’re considering solar, it’s natural to wonder how much your SRECs (Solar Renewable Energy Credits) might be worth. The calculation is straightforward: the value of your SREC payments is based on the total number of credits your system is projected to generate over 15 years, multiplied by the current price per credit.
But here’s where a little nuance comes in. Not all systems are created equal—factors like the total size of your solar array, the direction your panels face, and the amount of shade your property receives will influence how much energy you generate (and, therefore, your number of SRECs). So, your own SREC value may be higher or lower than your neighbor’s, depending on your property’s unique solar potential.
How Do You Earn SRECs?
Often, people want to know about how to earn SRECs when they ask what is the Illinois Shines program? For starters, you need to shop local solar companies to get the best deal you can find on solar panels. Once you choose a provider, they will help ensure that your system is eligible to earn SRECs. However, payments for the SRECs will get worked out through an approved vendor. Therefore, it is important for you to pick the right solar company that works with the best vendors to make the process of receiving payments on SRECs quick and easy.
How Long Will It Take to Get Paid?
Solar panel owners obviously do not want to wait a long time to receive payments on their SRECs. Under the Illinois Shines program, utility companies are required to issue SREC payments each economic quarter of the year. Therefore, you can expect to receive four payments each year. Typically, you can expect to receive your first payment within a year of your system’s installation.
Do Farms or Businesses Qualify for the Illinois Shines Program?
If you own a farm or business, you may wonder whether your company or agribusiness will quality for SRECs. Like residential property owners, small businesses and nonprofits can work with an approved vendor to qualify for the Illinois Shines program. In addition, eligible nonprofits, farms, and businesses can apply for Illinois Solar for All, a program that aims to make to the benefits of renewable energy accessible to more customers through program incentives.
Are You Looking for the Best Solar Panel Company?
If you are asking what is the Illinois Shines program, then you are likely interested in purchasing solar panels. So, you will want to work with the best solar panel company in Central Illinois. Sun Collectors prides itself on educating customers about the benefits of solar conversions. In addition, we help all our customers understand the available incentives and tax rebates they can receive.
Why Work with Sun Collectors?
We take pride in making solar for homes, solar for farms, and solar for businesses accessible to more customers. With that in mind, we provide no money down financing to help eliminate concerns about large upfront costs when purchasing solar panels. Also, we offer plans starting as low as $49 per month. Between the approved vendor and us, we cut through all the red tape so you can sit back and relax, knowing that you’ve made the right decision. In addition, we help our customers to receive all of the following attractive benefits:
- 30 year warranty
- Reduced energy expenses
- Increased home or property values
- Tax incentives that offset the cost of solar panel installation
- Solar panel rebate programs
Join Our Growing List of Satisfied Customers
You do not need to take our word about the value of our services. We invite you to browse through customer reviews that speak to the quality of our company. Then, you can join our growing group of satisfied customers across Central Illinois. We have helped customers to install more than 3,204 solar systems, saving our customers over $384 million in energy costs. Let us help you experience the many benefits you can receive from converting to renewable energy.