Solar Renewable Energy Credits (SRECs) Commercial
The Illinois Shines program will purchase Solar Renewable Energy Credits (SRECs) for the energy production of your array and then sell them to investor-owned utilities to meet their obligation to supply a certain amount of power from renewable energy. Your SREC payment is based on your system’s projected energy generation over 15 years and the size of your system. For homeowners the SREC payment arrives as one lump-sum payment, for businesses, the SREC payments are spread over 5 years. SREC payments can reduce the cost of a solar PV system by as much as 30%. Currently, there is a waiting list for SREC payments.