Vote Smart's Synopsis:

Vote to concur with Senate amendments and pass a bill that increases renewable energy storage requirements in Illinois.

Highlights:

• Increases renewable energy storage requirements in Illinois (Sec. 5-70).

• Amends and streamlines the state’s renewable energy incentive program to get wind and solar projects on the grid faster and ensures the power grid is built and maintained by an Illinois-based union workforce. (Sec. 5-70).

• Increases state regulator's authority to balance the budget for a key renewable energy financing tool, partially by shifting financial risk to electric utility customers (Sec. ).

• Establishes a study of energy storage technology intended to form the basis of a new bill later this year (Sec. 5-70).

• Requires that guaranteed contracts approved under the portfolio standard be funded in case of unexpected spikes in prices by allowing utility companies to charge consumers for the costs of any budget shortfall (Sec. 5-70).

• Amends and grants the Illinois Power Agency more flexibility on the breakdown between wind and solar procurement (Sec. 5-70).

• Requires the Illinois Commerce Commission to host a series of workshops exploring battery-based energy storage and that the Commerce Commission’s report on battery storage will be due to the General Assembly by May 1, 2025 (Sec. 5-70).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the Governor (Sec. 99).

Full Bill Text

Vote Smart's Synopsis:

Vote to amend and pass a bill that increases renewable energy storage requirements in Illinois.

Highlights:

• Increases renewable energy storage requirements in Illinois (Sec. 5-70).

• Amends and streamlines the state’s renewable energy incentive program to get wind and solar projects on the grid faster and ensures the power grid is built and maintained by an Illinois-based union workforce. (Sec. 5-70).

• Increases state regulator's authority to balance the budget for a key renewable energy financing tool, partially by shifting financial risk to electric utility customers (Sec. ).

• Establishes a study of energy storage technology intended to form the basis of a new bill later this year (Sec. 5-70).

• Requires that guaranteed contracts approved under the portfolio standard be funded in case of unexpected spikes in prices by allowing utility companies to charge consumers for the costs of any budget shortfall (Sec. 5-70).

• Amends and grants the Illinois Power Agency more flexibility on the breakdown between wind and solar procurement (Sec. 5-70).

• Requires the Illinois Commerce Commission to host a series of workshops exploring battery-based energy storage and that the Commerce Commission’s report on battery storage will be due to the General Assembly by May 1, 2025 (Sec. 5-70).

• Specifies that the provisions of this bill shall take effect immediately upon passage and approval by the Governor (Sec. 99).

Full Bill Text