SPRINGFIELD, Ill., Aug. 13, 2018 /PRNewswire/ -- Governor Rauner has signed two bills that will help ensure solar development benefits farmers and rural communities in Illinois. The state's solar industry worked with the Illinois Farm Bureau, local authorities and other stakeholders to shape SB 486, which creates a standard tax assessment value for solar farms in Illinois, and SB 2591, which sets standards for the construction and deconstruction of solar farms on agricultural land. The Illinois House and Senate passed both bills unanimously and Governor Rauner signed the final piece of legislation on August 10th.
The solar property tax legislation (SB 486) sets a standard tax assessment value for large solar installations, creating certainty around the property tax revenue that solar farms will pay to local taxing bodies, helping to fund schools, roads and other critical services. Under the legislation, each megawatt (MW) of ground-mounted solar installed in Illinois will generate an average of $6,000-$8,000 per year in property tax revenue. The industry expects to install up to 2,000 MW of ground-mounted solar farms by 2021, which will create a total $250-$350 million in property tax revenue over a 25-year lifespan. Under Illinois' funding formula, approximately 70% of this revenue will be dedicated to funding schools.
"Solar energy is a rapidly growing industry in Illinois, and it's good not only for the environment but also for the economy," said Illinois Senator Don Harmon (D-Oak Park), sponsor of SB 486. "It is my hope that the revenue generated from this industry can benefit local schools and communities and encourage the continued growth of solar power in our state."
"Solar businesses are ready and willing to create new jobs, clean energy and tax revenue to support Illinois communities. This bill provides a framework for us to move forward," said Lesley McCain, executive director of the Illinois Solar Energy Association. "The solar industry was proud to work with the Farm Bureau, county tax assessors and school districts to develop smart solar legislation that benefits all Illinoisans."
The solar industry worked in partnership with Environmental Law & Policy Center and other advocates to support smart solar policy in Illinois.
"ELPC has helped drive clean energy development in Illinois, and we are pleased that Governor Rauner has signed the solar energy legislation that the General Assembly passed this spring," said Howard Learner, Executive Director of the Environmental Law & Policy Center. "The stage is set even better to accelerate solar energy development that is good for job creation and good for a cleaner energy future in Illinois."
The farmland legislation (SB 2591) ensures that solar farms can coexist with agriculture in Illinois while providing long-term benefits to soil and water quality. SB 2591 requires that solar developers enter into an Agricultural Impact Mitigation Agreement (AIMA) with the Illinois Department of Agriculture prior to solar farm construction. The AIMA will set standards for solar construction and deconstruction and require financial assurances from developers that land will be restored to its prior use at the end of a solar farm's life.
Governor Rauner signed SB 486 on August 10th and SB 2591 on June 29th. These bills will help Illinois reach its statewide goal of 25 percent renewable energy by 2025 while also driving economic development, new jobs and reducing pollution from electric generation.
The Illinois Solar Energy Association (ISEA) is a non-profit organization that promotes the widespread application of solar and other forms of renewable energy through our mission of education and advocacy. ISEA is the state resource for renewable energy related policy developments, educational classes, events and access to local renewable energy businesses. www.illinoissolar.org
Contact: Peter Gray 312-629-9400
SOURCE Illinois Solar Energy Association