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Illinois adopts laws to boost green energy supplies

Illinois is chasing aggressive renewable energy targets, 75% of which must come from wind farms

Illinois has adopted new legislation to encourage the development of renewable energy projects in the state.

Bills signed by Governor Pat Quinn on Wednesday included measures to extend rules setting uniform property taxes for wind developments across the state.

The measures mean that at least until 2016, property taxes for wind developments do not vary in different locations across the state.

This would give developers more certainty over their costs.

Illinois is chasing “aggressive” Renewable Portfolio Standard targets to source 25% of electricity supplies from renewable sources by 2025.

Three quarters of the renewable energy is to be achieved through wind power under state law.

The state currently ranks 6th in the nation in the amount of wind capacity installed, which currently numbers 1,848 megawatts’ output.

“Having a robust green industry is critical to strengthening Illinois’ economy,” said Governor Quinn. “The legislation provides the state with additional tools to create jobs and further enhance Illinois’ growing renewable energy sector.”

PACE

Gov Quinn also signed into law provisions to allow local governments to finance clean energy projects in unincorporated areas of Illinois.

HB 4758 expands existing rules allowing homes and businesses to secure up-front funds for energy improvement projects through the property tax system.

The legislation is based on Property Assessed Clean Energy (PACE) programs, which are currently the subject of a row involving mortgage giants Fannie Mae and Freddie Mac (see this BrighterEnergy.org story).