Submitted By
Mindy Agnew, Sustainability Coordinator
Agenda Item Title
Title
Updated Analysis of Renewable Energy Projects
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Overview
Overview
As a follow up to the June 11, 2018 Special Meeting, an updated analysis has been completed for the Community Choice Electricity Aggregation (CCA) sustainability funds. A review of the 2019 Community Energy Program Plan will be presented at the meeting. This is a successor Plan to the preliminary analysis of options for Village energy intiatives presented June 11, 2018.
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Anticipated Future Actions/Commitments
Recommendation
Subject to consensus of the Board, staff will continue to pursue the recommended renewable energy options.
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Report
Staff continues its work with Mark Pruitt, Principal of the Illinois Community Choice Aggregation Network (ICCAN) and at the direction of the Village Board of Trusttee, staff has evaluated a range of renewable energy programs that can be supported by the Village (via the Community Choice Aggregation fund .03 of a penny/kWh fee) and the Future Energy Jobs Act (FEJA) in order to benefit the broadest population of Village residents.
The 2016 Illinois Future Energy Jobs Act (FEJA) increased the scope of energy efficiency incentives and renewable energy funding resources including a requirement that 10% of energy efficiency spending go to public buildings that include municipalities, and the Renewable Portfolio Standard (RPS) commits the state to produce 25% of its electricity from renewable energy by 2025. The incentives through FEJA are structured to provide the highest incentives for renewable energy projects deployed in the near-term. Similarly, the federal incentives decline over time.
Federal Investment Tax Credit Incentive Schedule:
30% through 2019
26% through 2020
22% through 2021
10% through 2022
Since the June 11, 2018 Village Board Special Meeting, staff updated recommendations and the metrics model based on requests from Village Board Trustees a...
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