Indexed REC-52: When will the next Indexed REC RFP be held and what are the expected REC quantities to be procured?

The 2022 Long-Term Plan covers the IPA’s renewable energy resources procurement activities for 2022 and 2023. The IPA filed its 2024 Long-Term Renewable Resources Procurement Plan (“2024 Long-Term Plan”) with the Illinois Commerce Commission (“ICC”) on October 20, 2023 related to procurement activities, including future Indexed REC RFPs, for 2024 and 2025. The 2024 Long-Term Plan remains subject to approval by the ICC.

Please see Section 5.6 of the 2024 Long-Term Plan, Table 5-6 in particular, for the proposed schedule for competitive procurements. If approved, the next Indexed REC RFP for new utility-scale wind, new utility-scale solar, and new brownfield site photovoltaic projects is expected to be held in Summer 2024. The proposed targets for the Summer 2024 Indexed REC RFP are 1,116,666 RECs annually from new utility-scale wind projects and hydropower projects, 666,666 RECs annually from new utility-scale solar projects, and 43,333 RECs annually from new brownfield site photovoltaic projects. Targets may be adjusted upward for any unfilled quantities from the Fall 2023 Indexed REC RFP.