Sol Systems has been working to help corporate, non-profit and municipal Illinois solar customers realize the benefits of onsite solar energy in the form of energy cost reductions and stable pricing. Through a Power Purchase Agreement (PPA), Sol Systems installs, owns, and operates the system and then sells the electricity it produces to the customer at a fixed rate ($/kWh) over a set period of time.
Why a PPA in Illinois?
Illinois’ recently passed Future Energy Jobs Act (FEJA) incentivizes the procurement of renewable energy, including solar, through renewable energy credit (REC) programs. The receipt of RECs from the state enables Sol Systems to offer an attractive rate to customers, typically providing savings from Day 1 of the contract. The RECs are awarded in blocks, with higher-value RECs being awarded to customers who are first to interconnect their systems. First come, first served. With this new policy, we expect a lot of solar to be added to Illinois in the near term, as we have seen in other states with similar policies.
Want to know more? Read our Illinois One Pager.
In early 2018, Sol Systems worked with Parkland College (Champaign, IL) to execute a PPA to build a 2 MW solar array on 8 acres of the college’s property. Over the 25 year PPA, the college will save between $25,000 – 30,000 a year in addition to both the environmental benefits of going solar and the educational opportunities an onsite energy source provides.