Illinois' new clean energy law includes several opportunities for consumers. Here's how you can benefit. - Chicago Tribune
Illinois’ massive new clean energy bill, signed into law last this month, is a landmark in the state’s battle against climate change: a systematic plan for boosting solar and wind power, getting a million electric cars on the road, and phasing out coal and natural gas by 2050.
Whether you’re installing solar panels, buying an electric car, or just looking for a break on your electricity bill, the energy law offers incentives, both new and familiar. Estimated savings range from 5% to 10% on your electric bill, $4000 on an electric car purchase and about $8,000 to $9,000 on a new rooftop solar energy system for your home.
“There are opportunities for you to benefit tremendously from going solar,” said John Delurey, a senior regional director at Vote Solar, a nonprofit that supports the equitable expansion of solar power.
One of the easiest ways is to reduce your energy bill is to take advantage of a community solar plan. An Illinois solar farm sells energy to the grid, reaping profits because solar energy is relatively inexpensive to produce and government incentives defray startup costs. Some of the profits are passed on to you as a member of the plan, and you get a discount on your electric bill and the satisfaction of knowing you’re supporting clean energy.
The nonprofit Citizens Utility Board lists seven community solar options, with a breakdown of the pluses and minuses. The Better Business Bureau rates community solar programs and posts customer reviews.
The upfront cost for installing a solar rooftop is about $22,000 in Illinois, said Delurey, but the state will pay for about $8,500 of that through an incentive program, and you can claim a hefty 26% rebate on that initial cost on your federal taxes. That reduces your upfront costs by about $14,200, making the tab about $7,800.
It will take about eight or nine years for your solar energy savings to pay back that reduced upfront cost, Delurey said, but the system should last for 25 years.
“I would happily take those savings and put them toward other things, and I love knowing that my power is coming from the sun,” Delurey said.
On the transportation front, the new law offers a $4,000 rebate for people buying electric cars, starting in July. The rebate falls to $2,000 in 2026 and $1,000 in 2028.
In addition, Beverly said, there’s evidence that electric vehicle owners save money over time. A 2020 study by Consumer Reports found that owners often save $6,000 to $10,000 over the life of the vehicle, due to factors such as lower fuel and maintenance costs.
The energy law also increases funding for solar panels in low-income homes, said Delurey. Families making 80% or less of the median income in their area can qualify for reduced cost (and often free) rooftop solar panels and electricity. There’s money for about 1,000 low-income homes to go solar each year, Delurey said.
There’s funding for existing programs, such as free and low-cost home energy assessments by electricity providers, as well as new money to help low-income families make their homes more energy efficient, according to Nick Dreher, policy director of the Midwest Energy Efficiency Alliance.
ComEd customers can schedule free energy-efficiency assessments, in person or virtual, and receive free or discounted energy-saving devices, as well as personalized reports listing additional ways to save.
That may not sound as exciting as electric cars and solar panels, but the U.S. Energy Department says the average American could be losing $200 to $400 in annual energy costs due to drafts, air leaks and outdated heating and cooling systems.
source: https://www.chicagotribune.com/news/breaking/ct-illinois-clean-energy-law-consumer-opportunities-0930-20211006-cijpq7i2cnbqficudcmh2xxeoy-story.html
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