Illinois has historically been home to relatively low electricity rates, making it a challenging market for CHP. Now, thanks to a new CHP incentive program by Commonwealth Edison (“ComEd”), the economics for CHP projects will get a significant boost.
Specific details are yet to be published by ComEd, but Vergent Power has learned that the incentive will have the following outline:
- $0.07 per kWh generated to help offset project cost (this would equate to approximately $600,000 in incentive dollars annually for a megawatt CHP).
- Up to $25,000 to go toward a feasibility study performed by pre-approved third party assessment providers.
- Up to $25,000 for interconnection costs.
This program is a very gratifying development for us, as we have been working for years with the Midwest Cogeneration Association to push for a pro-CHP climate in Illinois.
See below map showing ComEd’s service territory, which comprises more than 11,000 square miles in and near the Chicago-land area.
Contact us today if you are a ComEd customer interested in CHP for your facility.