Sweeping energy legislation passed in Illinois promises fix the state’s renewable portfolio standard and revive renewable energy development that has been dormant for several years. A centerpiece of the legislation is $2.4 billion in bailouts for two nuclear power plants, but the law also includes provisions for boosting energy efficiency and streamlining compliance provisions for the RPS – which requires 25 percent of electricity sales from renewable energy by 2025 – that in the past had brought RPS program to a standstill. In 2009, developers invested $1.3 billion in wind power and installed 632 megawatts worth of turbines, but since 2013, there has been essentially zero investment and no new wind capacity installed in Illinois. Provision in the Future Energy Jobs Bill are projected to spur 3 gigawatts of new solar projects and 1,300 MW of wind projects, which could bring $12 billion to $15 billion in private renewable energy investment into the state. Notably, the legislation was passed just one month out from the Trump presidency in a state with a Republican governor with strong bipartisan support — and without including any subsidies for coal.
Subscribe by email
Sign up for our weekly email updates: