For more information on the IL SREC calculation, please go to this url.
For this walkthrough, we are looking at a site in Morton Grove, Illinois. The utility is ComEd, and thus, group B.
To understand the AC capacity of the system, you can take the project ID from the URL, and go to this URL (by updating {{uuid}}): https://engine.goeverbright.com/api/data/project/{{uuid}}/?metrics=array_ac_capacity.
To get the UUID, go to the project phase. Select the desired project in the dropdown. Look at the URL. Copy the UUID that follows text: “project_id”
In this example: https://engine.goeverbright.com/api/data/project/7fb176ec-7084-4d90-b872-718af2c3ac65/?metrics=array_ac_capacity
We see a value returned of:
{"array_ac_capacity": [3120]}
Thus, the AC capacity of the system is 3.12 kW. Note: if there were multiple values returned, they should be added together to get the total system ac capacity.
Moreover, the system is in the <25kW tier, and has a SREC Base Rate of 64.56.
For the default rate, Sighten applies 20% haircut for collateral and vendor fee, resulting in a SREC Haircut Rate of 64.56 * 0.8 = 51.648
The equation Sighten uses to calculate the SREC is:
Total SRECs = System Inverter Capacity kW AC * 0.1642 / 1000 kW/MW * 8760 hours/year* 15 years
A simplified form with a single constant:
Total SRECs = System Inverter Capacity kW AC * 21.57588
Total SRECs = 3.12 * 21.57588 = 67.3167456
Total SREC Incentive amount = Total SRECs * SREC Haircut Rate
51.648 * 67.3167456 = $3,476.7752767488