Wind and solar energy have become increasingly desired sources of renewable energy. Illinois lawmakers have passed the Future Energy Jobs Act in reaction to this increase. Among other things, the Future Energy Jobs Act serves as a catalyst to investment in developing wind and solar energy projects in Illinois. Under the Act, developers may receive payments for renewable energy credits (“RECs”). To facilitate the process for exchanging RECs, the Illinois Power Agency has released a proposed standard form contract and request for proposal (“RFP”) that developers may use for wind and solar energy projects. The contracts include fairly standard provisions, and also more detailed provisions that are specific to requirements under the Act. The contracts and RFP serve as guidelines for the exchange of RECs for payment from the Illinois Power Agency.

Developer and contractor clients that focus on renewable energy construction are encouraged to review and comment on the proposed contract and RFPs. These documents may be accessed at https://www.ipa-energyrfp.com/wind-and-solar/draft-documents/. The finalized standard form contract and the RFPs will be impactful on the business of such developers and contractors as it will set the Illinois Power Agency’s bar for payment in exchange for RECs.