Brian McLemore here, Senior Advisor in the Southern Illinois market. Today’s topic is going to cover the rise in the Illinois renewables market and the effects of the state’s subsidies on renewables.
Retirement of Illinois Coal-Fired Generation Plants
Recently, Vistra Energy announced plans to shutter several plants in the Illinois market. Those are all coal-fired generation plants. This was set in place due to some changes in subsidies at the state level.
Back in 2016, the state of Illinois removed the subsidies for coal-fired plants and switched that to nuclear and more green energy sources.
Just a few short years ago, coal-fired plants made up 50 percent of our total energy generation. With the change in subsidies, we’re now at 27 percent of our energy coming from coal-fired plants. Additionally, 10 percent comes from natural gas-fired plants, and the remaining comes from wind, solar, and other renewable sources.
As we move forward, you can look for wind and solar to take a bigger foothold on the market in the state of Illinois.
What does this mean for Illinois energy users?
We here in Illinois have enjoyed very low energy rates for a long time. They’re actually some of the lowest rates in the nation. And barring some kind of black swan event, we don’t expect much to change on that front.
As green energy becomes more affordable, we will not only enjoy the favorable rates but also a cleaner environment and a more sustainable energy market.
I hope you found this segment helpful! If you have any questions about to coal-fired plants being shut down or green energy or what our make up is here in the state of Illinois, please feel free to reach out. If you have any questions about your current contracts or need help with an efficiency program, please reach out to us about that as well.
I appreciate you watching the video! Thank you, and have a great day.