Illinois Power Generation

by Illinois Electric Choice on November 6, 2011

One would imagine that energy production is uniform in all states. The fact is, Illinois has one of the largest networks of nuclear facilities in the nation – with six nuclear power plants. Approximately over half of Illinois energy is nuclear. The state has one of the largest nuclear generation capacities of all the states and all but seven world nations.

Overall, in terms of power generation, Illinois is among the top most electricity-generating states in the nation being the leading net exporter of electricity to the other states. The state’s power generation is not only produced by nuclear means. Wind and biomass resources are extensive within the state. The main boost to the Illinois power is the streaming investment capital. The aggressive renewable portfolio standard and progressive state and local incentives play a major role as a means of attraction to the voluminous investment capital inflow.

Among the motivations is the Illinois’ public benefit fund and state backed renewable energy bonds. This has helped immensely in the field of job creation and also encourages the citizens and the corporate, industrial and utility sectors to invest in the growing energy industry.

Key areas of Illinois energy;

Renewable Portfolio Standard (RPS): Due to the elaborate vision, Illinois requires investor-owned utilities (IOUs) and retail electric suppliers which will be able to produce 25% of their energy from renewable energy sources by 2025. Some of the examples of the renewable sources include solar, landfill gas, wind, biomass, hydroelectric and biodiesel facilities which are readily available within the state. However, there are some requirements which need to be met. While IOUs must produce 75% of their annual requirement from wind, retail electric suppliers must produce 60% from wind. In addition, by 2012 IOUs must purchase 0.5%of their power from solar sources. The requirements should not curtail anything as they can be met either by energy bundled with renewable energy credits or by purchase of tradable renewable energy credits.

Loan Program: Loans at reduced rates are given to Illinois business owners, nonprofit organizations and local government’s reduction on certain energy efficiency and renewable energy upgrades. This is made possible under the Green Energy Loan program.

As earlier indicated, Tax Incentives are also given. Through tax exemptions for construction materials used in wind powered facilities, this has catapulted diversification of Illinois power.

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