I’m proud to signify the Chicago space’s working households and small companies, which is why I launched laws that can assist maintain power prices down and safeguard our future by modernizing the state’s power grid.
Senate Bill 3959 is a essential resolution that appears out for shoppers and helps construct the financial system of tomorrow. My invoice would stop crippling power price hikes — an estimated $30 per thirty days on electrical energy payments — whereas creating 1000’s of jobs, and guaranteeing we now have a dependable and resilient power grid that meets the wants of current and future companies in Illinois.
The necessity for an method to our future power coverage was made obvious in a newly launched examine, Cost and Benefit Analysis of Energy Storage Resource Deployment in Illinois, which highlights the significance of battery power storage to scale back the chance of anticipated, and costly, energy outages.
The fact is that Illinois is liable to experiencing power shortages if efforts so as to add new capability sources are usually not applied quickly. These shortages would hurt shoppers and jeopardize the financial progress that’s essential to our communities. That’s merely unacceptable as households are already grappling with rising prices in different areas.
Due to this fact, quick legislative motion is essential as a result of constructing large-scale power options requires time. Illinois residents are already experiencing the implications of projected power shortfalls, because the July 2024 PJM Interconnection capability public sale prompted an 833% spike in power costs.
This surge is predicted to lift energy payments by as much as $30 per thirty days for tens of millions of Illinois households within the PJM Interconnection area, which incorporates most of northern Illinois. My proposed laws would sort out this subject by defending shoppers from unpredictable price will increase and providing incentives to speed up the event of photo voltaic, wind and storage initiatives, making a extra numerous and dependable power grid.
Ratepayer safety
My invoice provides greater than ratepayer safety — it’s a serious financial alternative for Illinois. By modernizing our grid and investing in clear power storage, Illinois can lead the nation in renewable power, attracting companies and creating tens of 1000’s of high-quality jobs in clear power, development and expertise, revitalizing communities statewide.
Battery power storage initiatives are anticipated to extend employment in Illinois by 32,417 people and 115,329 full-time equal years and help a rise of between $3.9 billion to $16.3 billion in value-added exercise statewide. Most of these development jobs can be union positions that include good wages, job protections and advantages that elevate up our households and native communities.
Illinois made main progress with the Local weather and Equitable Jobs Act, often known as CEJA, in 2021, however continued motion is significant to satisfy clear power objectives and appeal to companies. This invoice’s clear power storage mandate ensures renewable power can energy the grid reliably, even when the solar isn’t shining or the wind isn’t blowing.
SB 3959 additionally addresses some of the important boundaries to renewable power growth — interconnection. Proper now, the method of connecting new power techniques like photo voltaic panels or neighborhood photo voltaic initiatives to the present grid is inconsistent and sometimes expensive, resulting in delays and even the cancellation of accomplished initiatives. This invoice would make that course of extra predictable and clear, scale back prices and permit extra clear power initiatives to return on-line sooner.
Along with its financial and reliability advantages, this invoice additionally has essential fairness implications. By supporting the expansion of fresh power, notably in under-resourced communities, we are able to scale back the dangerous results of air pollution that disproportionately affect low-income and minority neighborhoods.
Moreover, the roles created by this laws will present significant, well-paying profession alternatives for Illinois residents from all backgrounds, fostering financial progress in each nook of our state.
SB 3959 is a essential piece of laws for Illinois’ power future and sends a transparent message: Illinois is open for enterprise. It’ll stop huge power price hikes, shield households and companies from unreliable energy, and guarantee we now have the fashionable, resilient power grid wanted to draw funding and drive financial progress.
Equally, it’ll assist us meet our local weather objectives, scale back air pollution and create tens of 1000’s of jobs in clear power. Roughly 75% of voters help incentives to construct a extra dependable grid by way of storage, and power value financial savings are a precedence for almost 75% of voters. This invoice is a win for Illinois shoppers, a win for the financial system and a win for the atmosphere.
I urge my colleagues within the Common Meeting to help this laws and assist safe a brighter, cleaner and extra affluent future for all Illinoisans.
State Sen. Invoice Cunningham has represented the 18th District since 2013. He’s the Illinois Senate president professional tempore and regularly serves because the Senate’s presiding officer.
The views and opinions expressed by contributors are their very own and don’t essentially mirror these of the Chicago Solar-Instances or any of its associates.
The Solar-Instances welcomes letters to the editor and op-eds. See our guidelines.
Get Opinions content material delivered to your inbox.
