Power Up Illinois
New Study Finds Renewable Energy Growth in Illinois Will Save Consumers $1.21 Billion in Energy Costs by 2031
Savings depend on action by the state legislature
Springfield, IL – Already the most affordable energy source in the majority of counties across Illinois, a new report now quantifies the potential savings additional renewable energy projects could yield for Illinois consumers. The study, performed by the Power Bureau and led by former Illinois Power Agency Director Mark Pruitt, finds that fully funding the expansion of Illinois’ renewable energy program will result in lower electric bills for Illinois ratepayers — saving Illinois consumers $1.21 billion over 10 years.
The study examined the impact of reaching 40 percent renewable energy in Illinois, as proposed by some state leaders, on energy prices and the direct savings realized by rooftop and community solar customers.
“Significant research has shown that an increase in renewable energy supply lowers overall energy costs. This new research solidifies that claim in Illinois, showing that increasing the supply of renewable energy in the state creates a net cost-benefit for all Illinois energy consumers and produces additional direct savings for many communities and rooftop solar customers. Keeping costs low for Illinois ratepayers has never been more important, and lawmakers have a clear path toward sustainable energy prices for the next decade and beyond,” Mark Pruitt with the Power Bureau says.
This study is the latest report in recent studies that have shown significant benefits to Illinois taxpayers, schools, and communities from ongoing investment by the renewable energy industry across the state. In addition to this study’s findings, a report last December by Dr. David Loomis shows:
About Power Up Illinois
Power Up Illinois, an initiative of the American Clean Power Association, is a coalition of pro-growth voices, community groups, and civic leaders supporting the value wind and renewable energy investments create for our communities. Power Up Illinois is working to secure our economic future by supporting new and sustainable investment from renewable energy and helping Illinois continue to grow as a leader in the renewable manufacturing supply chain. Learn more at https://www.powerupillinois.org/.
About Path to 100
Path to 100 is supported by renewable energy organizations and businesses working to create jobs in Illinois. For more information, visit www.pathto100.net.