SPRINGFIELD, Ill. – State agencies and universities will be able to enter into long-term power purchase agreements for renewable energy projects under legislation sponsored by state Rep. Katie Stuart, D-Edwardsville. Senate Bill 211 amends the Illinois Procurement Code to allow the State purchasing officers or a State agency to enter into renewable energy resources contracts and leases for up to 25 years.
“Senate Bill 211 will give state entities and universities the ability to adopt on-site solar projects,” Stuart said, “Southern Illinois University Edwardsville has been a leader in conservation projects on college campuses, and they will be able to move forward with renewable energy on campus with this legislation.”
Current law allows up to 15 years for energy conservation program contracts or leases where the savings would create a revenue stream to pay off financed investment over time. Under a 25-year limit, state agencies and universities will yield higher cash flows while also allowing the lowest energy price. This will make energy conservation projects like solar panels more affordable and will reduce overall costs to universities and state agencies.
“Not only will this legislation lead to more sustainable practices from our universities and state agencies, but it will also lead to a cut in costs over time,” continued Stuart. “We need to allow our state agencies and universities the freedom to act in their best interests, and this includes permitting longer contracts to see the positive impact of sustainable energy projects.”