Published on : Mar 26, 2015
The advocates of renewable energy has been voicing for overhaul of the Illinois’s clean energy law for several years in a row. Refurbishing the law would entail a release of over $100 million that was collected as ratepayer charges that they can invest on payment for new solar and wind projects.
However, the proponents could not help the cause and now it seems that the state is exhausting most of the money to address budget deficits to the rest of the fiscal year.
The bill was negotiated by the House Speaker Michael Madigan and Governor, Bruce Rauner. They suggested investing $98 million from the fund collected from ratepayer in the promotion of renewable energy projects across the state. Earlier Illinois Power Agency, which is the body regulating funds, was unable to utilize the money owing the certain flaws in the state’s clean energy law. Although environmental activists and advocates tried hard to fix these issues, but all their efforts went in vain, largely due to opposition staged by the largest power generator in the state.
The Madigan Rauner bill was passed by the House the day before. The bill leaves behind $30 million in the fund, which was already set aside for funding of procurements in solar power. The first installment of the fund was scheduled for IPA to be conducted in June. The investment worth $30 million was negotiated between the state’s largest power generator, Exelon, and environmentalists, last year. Gov. Pat Quinn signed the agreement into law.
The decision for allotting $30 million worth fund exclusively for renewable power energy came after environmentalists, energy efficiency firms, and renewable power companies lined up demanding the clean jobs bill to bolster the ultimate goal of the state pertaining to the curbing the effect of the overall power consumed by Illinois.