The Illinois Power Agency (IPA) conducted a Supplemental Photovoltaic (SPV) RFP under Section 1-56(i) of the IPA Act to procure renewable energy credits (RECs) from photovoltaic systems. This procurement event was the third in a series approved by the Illinois Commerce Commission (ICC) in its Order issued on January 21, 2015, with a total budget of $30 million designated specifically for contract fulfillment.
The SPV RFP procures RECs from distributed renewable energy generation systems located in Illinois that meet specific eligibility criteria. Eligible systems must be new photovoltaic systems energized on or after January 21, 2015, located in Illinois, interconnected at the distribution level with regulated utilities, municipal utilities, or rural electric cooperatives, and installed by qualified persons as defined in Illinois law. Systems must be equipped with revenue-quality meters and registered with PJM-EIS GATS or M-RETS tracking systems.
The procurement is structured around three system size categories: Sub-25 kW systems (less than 25 kilowatts), 25-Plus systems (25 kW to 2,000 kW), with the allocation requirement that 50 percent of RECs come from systems below 25 kW. Bidders may submit identified systems with complete information or forecast quantities for yet-to-be-identified Sub-25 kW systems. The minimum bid size is 500 RECs, with bid assurance collateral required at $4 per REC for identified systems and $8 per REC for forecast quantities. Performance assurance collateral of $8 per REC for identified systems and $16 per REC for forecast quantities is due within fourteen calendar days of ICC approval of winning bids.
Key dates for this procurement event include: Part 1 Proposal Window opened February 25, 2016 and closed March 11, 2016; Part 1 Notification occurred on March 18, 2016; Part 2 Proposal Window opened March 21, 2016 and closed April 1, 2016; Bid Date was April 21, 2016; ICC approval occurred on April 4, 2016; and results were announced April 4, 2016.