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Illinois Achieves Unprecedented Solar Growth in 2024
In 2024, Illinois marked a significant milestone in solar energy development, generating enough power from sunlight to supply approximately 930,000 homes. This achievement is detailed in a recent study by the Solar Energy Industries Association (SEIA) and Wood Mackenzie.
A Surge in Solar Capacity
Last year, the state significantly increased its solar capacity by adding 2.5 gigawatts—a growth rate that nearly doubles its existing supply.
This impressive leap places Illinois behind only Texas, California, and Florida in terms of overall solar growth.
Sean Gallagher, Senior Vice President of Policy at SEIA, attributed this progress to robust legislative support from the Illinois legislature during critical periods in 2016 and 2021. He emphasized how these climate-focused laws have laid the groundwork for ongoing expansion within Illinois’ solar sector.
A National Perspective
The state-level developments reflect broader national trends as well; across the United States, an extraordinary total of 50 gigawatts of new solar capacity was installed—an increase of 21% compared to 2023. This surge saw solar energy making up a staggering 66% of all newly introduced electricity generation capacity nationwide during this period, surpassing both wind and natural gas sources.
While various segments within the solar industry experienced record installations last year, residential installations hit their lowest levels since early 2021—a downturn primarily linked to company insolvencies and hesitations among consumers influenced by rising interest rates ahead of the upcoming elections.
A Unique Position for Residential Solar in Illinois
Despite these national challenges regarding residential installations—typically dominated by rooftop setups—Illinois emerged as an anomaly with increased adoption rates. The rise was partly fueled by customers eager to install rooftop systems before changes on January 1 affected incentives for feeding excess energy back into the grid. While potential reductions could impact savings for some users going forward, advocates assert that investing in solar remains economically advantageous.
Status Update on Residential Installations
In terms of residential additions during Q4 of 2024, Illinois ranked third nationally behind California and Florida.
The Future Amid Political Uncertainty
The outlook may face turbulence as former President Donald Trump signals intentions to reverse certain incentives established under Biden’s landmark climate legislation—the Inflation Reduction Act—as part of his administration’s broader policies prioritizing fossil fuels over clean energy initiatives.
From day one in office, Trump began enacting measures that imposed temporary freezes on various clean energy programs while advocating heavily for traditional fossil fuel resources through orders like ”Unleashing American Energy.” He expressed concerns about what he termed “restrictive regulations” which he believes escalated consumer costs unfairly;
The Economic Impact on Renewable Energy Risks
An analysis conducted by Lazard confirmed that wind power alongside utility-scale solar are now competitive with or cheaper than natural gas-generated electricity—indicative not only of technological advancements but also shifting market dynamics favoring renewables over conventional fossil-fuel sources.
Report forecasts suggest that if favorable conditions diminish due to reduced federal backing or tax credits being scaled back significantly—even leading potentially up to a quarter reduction installation through until2035—the momentum gained thus far could see efforts stall.
Nonetheless Gallagher emphasizes popular demand remains consistent amid such uncertainties: “It’s difficult if not impossible—to extinguish consumer enthusiasm for these technologies,” he advised.
With large-scale projects typically deployed much faster relative standard coal- or gas-fired plants—that can extend beyond five years before coming online compared two electronics developments being operational within just around two years—it suggests rapid growth rates may persist nonetheless despite regulatory stressors exerted upon them.”
Cautious Optimism Moving Forward
In light responsibility towards advancing sustainable solutions further compounded social inequity evident pressing need address increasingly high prices resulting deregulation states limiting access more viable alternatives facing looming crises economic viability every household concerned about rising bills reiterated Gallagher.”
Further examinations encourage preserving tax credits focus bolstering capabilities renewable sectors steering attention towards pathways support achieving long-term goals toward nationwide enhanced resilience promoting understanding future utility landscape.”
Acknowledgment:
This document is © Chicago Tribune (March12th). Laid out originally distribute via Tribune Content Agency LLC