renewable portfolio standard
THE IN-DEPTH LOOK
Time to Update The Illinois Renewable Portfolio Standard
llinois is off to a good start in getting to the clean energy goals we set in 2007. Setting those goals (25% clean energy by 2025) has led to cleaner air, 20,000 jobs created, and $177 million in electric bill savings. To keep up this progress, Illinois’ Renewable Portfolio Standard needs an update to reflect a changing power market, and to better incentivize investment in Illinois renewable energy projects so we can maximize the economic and environmental benefits here in our communities.
There are two important updates the General Assembly should make to maintain the job growth, pollution reduction, and consumer savings we’ve seen over the last six years.
First, the RPS should be updated to reflect today’s very different, competitive electric market. The problem lies in the fact that the current targets don’t apply equally to all electric suppliers. All suppliers must meet the annual target (8% of their power supply in 2013, increasing to 25% by 2025), but the current law requires them to do so in very different ways – often in ways that discourage investment in Illinois.
The General Assembly should update the RPS to reflect today’s competitive power market, to incentivize all power suppliers to invest in Illinois.
Second, Renewable Energy Resource Fund dollars should finally be invested in Illinois projects, as originally intended.
Clean energy investments in Illinois benefit all of us, but we are missing out on a major opportunity. The Renewable Energy Resources Fund (RERF) is funded by mandatory payments from alternative retail electric suppliers. Alternative retail electric suppliers have been paying into the RERF for three years, but not a single dollar has ever been spent on clean energy projects. Since the RERF was created, every dollar has been swept or “borrowed”.
You can download all the information about the RPS in our fact sheet.
what can i do to support the rps?
Senate Bill 103 and House Bill 2864 would simply make the energy targets apply equally, so no matter who your energy supplier is, they will be meeting clean energy targets in the same way, and in a way that supports continued renewable power development here in Illinois.
Contact your legislators today to show your support!