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| Public Act 095-0913 |
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AN ACT concerning regulation.
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Be it enacted by the People of the State of Illinois,
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represented in the General Assembly:
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Section 5. The Renewable Energy, Energy Efficiency, and | ||||
Coal Resources
Development Law of 1997 is amended by changing | ||||
Section 6-3 as follows:
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(20 ILCS 687/6-3)
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(Section scheduled to be repealed on December 12, 2015)
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Sec. 6-3. Renewable energy resources program.
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(a) The Department of Commerce and Economic Opportunity, to
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be called the "Department" hereinafter in this Law, shall
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administer the Renewable Energy Resources Program to provide
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grants, loans, and other incentives to foster investment in
and | ||||
the development and use of renewable energy resources.
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(b) The Department shall establish eligibility criteria
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for grants, loans, and other incentives to foster investment
in | ||||
and the development and use of renewable energy resources.
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These criteria shall be reviewed annually and adjusted as
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necessary. The criteria should promote the goal of fostering
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investment in and the development and use, in Illinois, of
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renewable energy resources.
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(c) The Department shall accept applications for grants,
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loans, and other incentives to foster investment in and the
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development and use of renewable energy resources.
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(d) To the extent that funds are available and
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appropriated, the Department shall provide grants, loans, and
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other incentives to applicants
that meet the criteria specified | ||
by the Department.
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(e) The Department shall conduct an annual study on the
use | ||
and availability of renewable energy resources in
Illinois. | ||
Each year, the Department shall submit a report on
the study to | ||
the General Assembly. This report shall include
suggestions for | ||
legislation which will encourage the
development and use of | ||
renewable energy resources.
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(f) As used in this Law, "renewable energy resources" | ||
includes energy from
wind, solar thermal energy, photovoltaic
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cells and panels, dedicated crops
grown for energy production | ||
and organic waste biomass, hydropower that does not
involve new | ||
construction or significant expansion of hydropower dams, and | ||
other
such alternative sources of environmentally preferable | ||
energy.
"Renewable energy resources" does not include, | ||
however, energy from the
incineration, or burning or heating of | ||
waste wood, tires, garbage, general
household, institutional | ||
and commercial waste, industrial lunchroom or office
waste, | ||
landscape waste, or construction or demolition debris.
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(g) There is created the Energy Efficiency Investment Fund | ||
as a special
fund
in the State Treasury, to be administered by | ||
the Department to support the
development of technologies for | ||
wind, biomass, and solar power in Illinois.
The
Department may | ||
accept private and public funds, including federal funds, for
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deposit into the Fund.
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(Source: P.A. 94-793, eff. 5-19-06.)
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Section 10. The Illinois Power Agency Act is amended by | ||
changing Section 1-10 as follows: | ||
(20 ILCS 3855/1-10)
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Sec. 1-10. Definitions. | ||
"Agency" means the Illinois Power Agency. | ||
"Agency loan agreement" means any agreement pursuant to | ||
which the Illinois Finance Authority agrees to loan the | ||
proceeds of revenue bonds issued with respect to a project to | ||
the Agency upon terms providing for loan repayment installments | ||
at least sufficient to pay when due all principal of, interest | ||
and premium, if any, on those revenue bonds, and providing for | ||
maintenance, insurance, and other matters in respect of the | ||
project. | ||
"Authority" means the Illinois Finance Authority. | ||
"Commission" means the Illinois Commerce Commission. | ||
"Costs incurred in connection with the development and | ||
construction of a facility" means: | ||
(1) the cost of acquisition of all real property and | ||
improvements in connection therewith and equipment and | ||
other property, rights, and easements acquired that are | ||
deemed necessary for the operation and maintenance of the | ||
facility; | ||
(2) financing costs with respect to bonds, notes, and | ||
other evidences of indebtedness of the Agency; | ||
(3) all origination, commitment, utilization, | ||
facility, placement, underwriting, syndication, credit | ||
enhancement, and rating agency fees; | ||
(4) engineering, design, procurement, consulting, | ||
legal, accounting, title insurance, survey, appraisal, | ||
escrow, trustee, collateral agency, interest rate hedging, | ||
interest rate swap, capitalized interest and other | ||
financing costs, and other expenses for professional | ||
services; and | ||
(5) the costs of plans, specifications, site study and | ||
investigation, installation, surveys, other Agency costs | ||
and estimates of costs, and other expenses necessary or | ||
incidental to determining the feasibility of any project, | ||
together with such other expenses as may be necessary or | ||
incidental to the financing, insuring, acquisition, and | ||
construction of a specific project and placing that project | ||
in operation. | ||
"Department" means the Department of Commerce and Economic | ||
Opportunity. | ||
"Director" means the Director of the Illinois Power Agency. | ||
"Demand-response" means measures that decrease peak | ||
electricity demand or shift demand from peak to off-peak | ||
periods. | ||
"Energy efficiency" means measures that reduce the amount | ||
of electricity required to achieve a given end use. | ||
"Electric utility" has the same definition as found in | ||
Section 16-102 of the Public Utilities Act. | ||
"Facility" means an electric generating unit or a | ||
co-generating unit that produces electricity along with | ||
related equipment necessary to connect the facility to an | ||
electric transmission or distribution system. | ||
"Governmental aggregator" means one or more units of local | ||
government that individually or collectively procure | ||
electricity to serve residential retail electrical loads | ||
located within its or their jurisdiction. | ||
"Local government" means a unit of local government as | ||
defined in Article VII of Section 1 of the Illinois | ||
Constitution. | ||
"Municipality" means a city, village, or incorporated | ||
town. | ||
"Person" means any natural person, firm, partnership, | ||
corporation, either domestic or foreign, company, association, | ||
limited liability company, joint stock company, or association | ||
and includes any trustee, receiver, assignee, or personal | ||
representative thereof. | ||
"Project" means the planning, bidding, and construction of | ||
a facility. | ||
"Public utility" has the same definition as found in | ||
Section 3-105 of the Public Utilities Act. | ||
"Real property" means any interest in land together with | ||
all structures, fixtures, and improvements thereon, including | ||
lands under water and riparian rights, any easements, | ||
covenants, licenses, leases, rights-of-way, uses, and other | ||
interests, together with any liens, judgments, mortgages, or | ||
other claims or security interests related to real property. | ||
"Renewable energy credit" means a tradable credit that | ||
represents the environmental attributes of a certain amount of | ||
energy produced from a renewable energy resource. | ||
"Renewable energy resources" includes energy and its | ||
associated renewable energy credit or renewable energy credits | ||
from wind, solar thermal energy, photovoltaic cells and panels, | ||
biodiesel, crops and untreated and unadulterated organic waste | ||
biomass, trees and tree trimmings, hydropower that does not | ||
involve new construction or significant expansion of | ||
hydropower dams, and other alternative sources of | ||
environmentally preferable energy. For purposes of this Act, | ||
landfill gas produced in the State is considered a renewable | ||
energy resource. "Renewable energy resources" does not include | ||
the incineration, or burning, or heating of tires, garbage, | ||
general household, institutional, and commercial waste, | ||
industrial lunchroom or office waste, landscape waste other | ||
than trees and tree trimmings, railroad crossties, utility | ||
poles, or and construction or demolition debris, other than | ||
untreated and unadulterated waste wood. | ||
"Revenue bond" means any bond, note, or other evidence of | ||
indebtedness issued by the Authority, the principal and | ||
interest of which is payable solely from revenues or income | ||
derived from any project or activity of the Agency. | ||
"Total resource cost test" or "TRC test" means a standard | ||
that is met if, for an investment in energy efficiency or | ||
demand-response measures, the benefit-cost ratio is greater | ||
than one. The benefit-cost ratio is the ratio of the net | ||
present value of the total benefits of the program to the net | ||
present value of the total costs as calculated over the | ||
lifetime of the measures. A total resource cost test compares | ||
the sum of avoided electric utility costs, representing the | ||
benefits that accrue to the system and the participant in the | ||
delivery of those efficiency measures, to the sum of all | ||
incremental costs of end-use measures that are implemented due | ||
to the program (including both utility and participant | ||
contributions), plus costs to administer, deliver, and | ||
evaluate each demand-side program, to quantify the net savings | ||
obtained by substituting the demand-side program for supply | ||
resources. In calculating avoided costs of power and energy | ||
that an electric utility would otherwise have had to acquire, | ||
reasonable estimates shall be included of financial costs | ||
likely to be imposed by future regulations and legislation on | ||
emissions of greenhouse gases.
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(Source: P.A. 95-481, eff. 8-28-07.)
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