IL is Scaling Up Battery Storage
Electricity prices have risen sharply in IL this summer. Both the PJM Interconnection and MISO have been facing high demand, leading to rising PTC rates. But IL lawmakers are fighting back. IL is using utility scale battery storage to help improve grid reliability and cut carbon emissions. But how will they cut your Illinois electric bill? Well, let’s see how battery storage effects your IL energy bills. And, how to find the best energy supplier.
Illinois Power Shortage
Data centers and severe weather have been driving up electricity costs throughout the PJM grid area in Chicago and the MISO area in the south. During last summer’s capacity auction, PJM saw energy costs spike due to tight supply. Plus, PJM expects another 30 GW of power demand from data centers by 2030. Meanwhile, MISO is in a similar situation that forced Ameren to raise its default rates by nearly 3 cents this summer. Worse still, as demand rises, grid reliability becomes an issue. In fact, MISO has reported that its grid is at its limit, and PJM isn’t in any better shape.
Illinois Using Battery Storage to Help Grid Reliability
In response, IL lawmakers passed the Clean and Reliable Grid Affordability Act (CRGA). One of the major goals of the act is to use utility scale batteries for extra wind and solar energy. In time, this storage could become part of the state’s Illinois Solar for All sites. This puts more power on the state’s grid to cut electric rates. And during severe weather or high demand, batteries can act as backup power to help avoid blackouts. When combined with Comed‘s new virtual power plant project, we could see a much more stable IL grid.
IL Battery Storage Program Moving Steadily
Under the act, IL seeks 3,000 MW of battery storage by 2030. This summer, the state’s first battery power auction secured over 600 MW of storage from battery only facilities. The state landed 520 MW of storage projects in the MISO area and 80 MW in the PJM area. While it fell short of its 1,038 MW goal, the total was four times what the state is currently using. Next year’s auction could include storage paired with solar and wind farms.
IL Electricity Rates in Limbo
Battery storage is just one way that the state is trying to cut electric rates. Still, as demand for power grows, rates may climb further. So, it’s important to shop for a cheap electricity fixed rate plan to save on your electric bills.
Start now by comparing rates, reading reviews, and shopping plans with us. Visit https://www.ilenergyratings.com to see the electric plans for your home!