As a result, new incentive blocks will open for residential, commercial, and community solar with the first funding block opening on December 14, 2021. The Illinois Power Agency has been offering workshops and training solar companies on how to apply with the new system. CEJA also sets out ambitious new renewable energy standards, calling for 40% renewable energy by 2030 and 50% by 2040.
This DG+ Illinois Solar Market Report provides an overview of the status of the new solar incentives, projected solar growth, and a breakdown of the market leaders.
In early 2021, the solar industry in Illinois had experienced what is referred to as a boom and bust. After lucrative incentives from FEJA had dwindled, solar installations had rapidly slowed down, in particular community solar. With CEJA, the community solar market is expected to continue on an upward trajectory. In 2022, the state is expected to offer financial incentives for the installation of 250 MW of community solar projects and open waitlists for additional projects.
Thanks to CEJA, funding for the Illinois Solar for All Program has also increased from $10 million to $50 million to further incentivize solar development in low-income communities.
With the COVID-19 pandemic and FEJA incentives drying up, Illinois experienced a slight downturn in its solar workforce, reflecting a 4.6% drop between 2019 and 2020. Nonetheless, Illinois continues to be amongst the top 15 states for job opportunities in the solar energy sector and the CEJA will likely result in a significant upturn over the coming years.
Solar PPA prices in Illinois are some of the lowest in the nation due to the robust incentives offered by the new Climate and Equitable Jobs Act (CEJA). Notably, CEJA requires utilities to pay eligible solar owners a rebate of $300 per kilowatt (kW) of installed capacity for net metered projects and $250 per kW of installed capacity for community solar projects.
This DG+ Illinois Solar Market report includes estimated solar PPA pricing across varied project sizes and utility service territories.
As local markets change dynamically and policies remain difficult to navigate, clean energy organizations are currently forced to choose between the overwhelming flow of free information and high-priced market intelligence subscriptions that are often too expensive for small- and medium-sized firms.
At DG+, we provide succinct information that cuts through the noise and gets to the point. Reports include details on current events, opportunities and challenges, policy summaries, pricing analysis, and market share data.
This DG+ Illinois solar report provides an overview of the status of all available solar incentives, projected solar growth, and a breakdown of the market leaders.
Are you looking for marketing, communications, creative, or research help? Simply fill out this form, and we'll be in touch!
