Submitted By
Mindy Agnew, Sustainability Coordinator
Reviewed By
CLP
Agenda Item Title
Title
A Resolution Approving an Illinois Community Solar Project Subscription Agreement and Billing Management Services Agreement with MC Squared Energy Services, LLC and Authorizing their Execution as Reviewed at June 24, 2019 Special Meeting.
End
Overview
Overview
These agreements are connected to Resolution 19-257. The subscription agreement is required to access the opportunity to set up four (4) village accounts on the pilot program with the Metropolitan Mayor's Caucus and the billing services agreement is to facilitate receiving monthly billing credits.
Body
Staff Recommendation
Approve the Resolution.
Fiscal Impact
The Pilot Community Solar project is available for four (4) Village accounts at no cost or investment that would deliver a 10% discount to the monthly ComEd rate, require no interest, apply no termination fees, and the Village can extend up to 20 years and exit the Agreement at any time. The general CS2 Community Solar program could generate up to $4,000 in annual cost savings to the Village.
Background
The Future Energy Jobs Act (FEJA) created new incentives for the development of renewable energy assets in Illinois - including Community Solar. Community Solar refers to solar facilities that are shared by multiple consumers (called Subscribers) who receive credit on their electricity bills for their share of the power produced by the Community Solar facility. By claiming a portion of a large solar facility, Subscribers (i.e. ComEd account owners) can access the benefits of solar without installing solar panels on their own property. Additionally, Subscribers avoid up-front costs and ongoing maintenance obligations of solar panels, while securing lower costs resulting from economies of scale.
Community Solar facilities funded under the FEJA are limited to 2 megawatts in generating capacity and are to be developed and operated by non-utility own...
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