Around late 2015 into early 2016, Sol Systems registered interested solar system owners in Illinois to participate in a 5-year pilot program implemented by the Illinois Power Agency (IPA). Solar systems were deemed eligible based on their geographic location within the PJM Interconnection service territory in the state of Illinois. This segment of customers were awarded a 5-year eligibility term for IL SRECs by the IPA and customers were informed at the time that this program was only designed to be temporary. Once their term was completed, Sol Systems notified customers that their IL SREC eligibility had ended and the only other state market where we could register them to continue trading SRECs in would be Pennsylvania Tier I. Below is an excerpt from an email we issued to these customers ahead of their eligibility expiration date:
Dear Sol Systems Customer,
Per your contract with the Illinois Power Agency, your five-year contract term or maximum quantity of SRECs will be reached at the end of this month. Thus, your eligibility to sell SRECs through the Illinois Supplemental Procurement Program has expired. The obligations outlined in the Sol Systems contract have been completed and Sol Systems has paid you for all SRECs generated during this term.
If you would like to register your system in the PA Tier-I market (REC prices ~$9 before fees) please contact our customer service department.
At this time, we are unable to continue trading SRECs from solar systems located in Illinois in any state market other than Pennsylvania. For our customers and for our company, it is in everyone's best interest to register solar systems in the highest value market where they are eligible; for this group of customers from Illinois, currently that is the PA Tier I market. If any policy changes occur in state markets where we operate that would yield higher prices for SRECs, we will notify customers and start gathering appropriate registration requirements.
The PJM Interconnection also extends into numerous counties of northern Illinois (highlighted in gold). Most solar facilities in this region are covered by ComEd as their local electric utility company.