Study: Expanding Renewable Energy in Illinois to 40% by 2031 Will Save Consumers $1.21 Billion
A study performed by the Power Bureau, 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.
The study, Cost Analysis of Renewable Energy Deployment in Illinois, compared the additional funding needed to reach a 40% renewable energy goal with the impact the additional renewables would have on wholesale energy and capacity prices, and the direct savings realized by rooftop and community solar customers.
It found that reaching 40% renewable energy will create a net benefit for Illinois consumers of $1.21 billion over 10 years.
Study: Path to 100 Legislation Would Create More than 53,000 Jobs and $8.2 Billion in Economic Output
An economic impact analysis of the Path to 100 Act found that, by 2033, the legislation would result in:
53,298 jobs created or supported during construction
3,215 jobs created or supported annually during operations
$8.27 billion in increased economic output during construction
$571 million per year in increased economic output during operations
The analysis was conducted by Dr. David Loomis. Loomis is the co-founder of the Center for Renewable Energy at Illinois State University and the President of Strategic Economic Research and has over 20 years of experience in energy and economic development analysis.