Bill Text: IL SB2123 | 2019-2020 | 101st General Assembly | Introduced
Bill Title: Creates the Equitable Energy Financing Act. Requires the Illinois Commerce Commission to establish the Equitable Energy Financing Program for all electric utilities in this State to permit customers to finance the construction of energy projects through an optional tariff payable directly through their utility bill. Provides that the Program shall offer to make investments in energy projects to customer properties with low-cost capital and use an opt-in tariff to recover the costs. Provides that the Program will allow residential electric utility customers that own the property, or renters that have a long-term lease on the property, for which they subscribe to utility service, to purchase an energy project. Provides further requirements for the Program and requirements for the Commission concerning the Program. Provides for customer protections and cost-effectiveness requirements under the Program. Provides Program participation requirements for electric utilities in this State. Defines terms. Effective immediately.
Spectrum: Partisan Bill (Democrat 3-0)
Status: (Failed) 2021-01-13 - Session Sine Die [SB2123 Detail]
Download: Illinois-2019-SB2123-Introduced.html
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1 | AN ACT concerning regulation.
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2 | Be it enacted by the People of the State of Illinois,
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3 | represented in the General Assembly:
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4 | Section 5. The Illinois Power Agency Act is amended by | ||||||||||||||||||||||||
5 | adding Section 1-59 as follows:
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6 | (20 ILCS 3855/1-59 new) | ||||||||||||||||||||||||
7 | Sec. 1-59. Renewable Energy Pay As You Save Program. | ||||||||||||||||||||||||
8 | (a) The General Assembly finds that Illinois homes and | ||||||||||||||||||||||||
9 | businesses can contribute to the creation of a clean energy | ||||||||||||||||||||||||
10 | economy, conservation of natural resources, and reliability of | ||||||||||||||||||||||||
11 | the electricity grid through the installation of | ||||||||||||||||||||||||
12 | cost-effective renewable energy generation and energy storage | ||||||||||||||||||||||||
13 | systems. Moreover, a large portion of Illinois residents and | ||||||||||||||||||||||||
14 | businesses that would benefit from installation of such systems | ||||||||||||||||||||||||
15 | are unable to purchase systems due to capital or credit | ||||||||||||||||||||||||
16 | barriers. | ||||||||||||||||||||||||
17 | Programs created pursuant to this Section will allow | ||||||||||||||||||||||||
18 | utility customers to purchase cost-effective renewable energy | ||||||||||||||||||||||||
19 | generation and energy storage systems, with no required initial | ||||||||||||||||||||||||
20 | upfront payment, and to pay the cost of those products and | ||||||||||||||||||||||||
21 | services over time on their utility bill using a program | ||||||||||||||||||||||||
22 | designed to fit the "Pay As You Save" (PAYS) model. | ||||||||||||||||||||||||
23 | (b) The Illinois Commerce Commission shall implement a |
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1 | project to be called the Renewable Energy Pay As You Save | ||||||
2 | Program that shall: | ||||||
3 | (1) allow a residential electric utility customer that | ||||||
4 | owns the property for which the customer subscribes to | ||||||
5 | purchase a renewable energy product or energy storage | ||||||
6 | system: | ||||||
7 | (A) with no up-front payments; and | ||||||
8 | (B) by paying the cost of the system over time of | ||||||
9 | the customer's electricity bill if the estimated life | ||||||
10 | cycle electricity savings from the renewable energy | ||||||
11 | products system exceeds the cost of the system; | ||||||
12 | (2) provide for billing and payment of the renewable | ||||||
13 | energy products system on the utility bill; | ||||||
14 | (3) assist lower income residents and environmental | ||||||
15 | justice community residents in purchasing renewable energy | ||||||
16 | generation and energy storage systems through financing | ||||||
17 | programs; and | ||||||
18 | (4) be administered in coordination with the energy | ||||||
19 | efficiency on-bill financing program established under | ||||||
20 | Section 16-111.7 of the Public Utilities Act to maximize | ||||||
21 | resident savings. | ||||||
22 | (c) Within 60 days after the effective date of this | ||||||
23 | amendatory Act of the 101st General Assembly, the Commission | ||||||
24 | shall convene a workshop process during which interested | ||||||
25 | participants may discuss issues related to the Program. | ||||||
26 | (d) Within 120 days after the effective date of this |
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1 | amendatory Act of the 101st General Assembly, each electric | ||||||
2 | utility subject to the requirements of this Section shall | ||||||
3 | submit an informational filing to the Commission that describes | ||||||
4 | its plan for implementing the provisions of this Section. | ||||||
5 | (e) Electric utilities shall work with lenders selected | ||||||
6 | pursuant to a request for proposals process and with vendors to | ||||||
7 | establish the terms and processes under which a participant can | ||||||
8 | purchase eligible renewable energy generation and energy | ||||||
9 | storage systems using the financing obtained from a lender | ||||||
10 | through a program designed to fit the Pay As You Save model. | ||||||
11 | The vendor shall explain and offer the approved financing | ||||||
12 | packaging to customers and shall assist customers in applying | ||||||
13 | for financing. As part of the process, vendors shall also | ||||||
14 | provide participants with information about any other relevant | ||||||
15 | incentives that may be available. | ||||||
16 | (f) An electric utility shall recover all of the prudently | ||||||
17 | incurred costs of offering a program approved by the Commission | ||||||
18 | under this Section. | ||||||
19 | (g) An independent evaluation of a program shall be | ||||||
20 | conducted after 3 years of the program's operation. | ||||||
21 | (h) The Illinois Commerce Commission shall adopt all rules | ||||||
22 | necessary for administration of this Section.
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23 | Section 99. Effective date. This Act takes effect upon | ||||||
24 | becoming law.
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