ComEd recently announced the start of a new program in Illinois that will provide $350 million in funding for energy efficiency each year for the next four years. The program, created through the state’s Future of Energy Jobs Act (FEJA), is expected to almost double savings for ComEd’s customers as well as slash electricity use in Illinois by 21% by 2030, the utility says.
Expanding funding for energy efficiency is a key aspect of FEJA, which received bipartisan report, was signed into law last year, and just went into effect in June. The Environmental Defense Fund called the legislation “the most significant climate and clean energy bill in state history.”
Annual investments in energy efficiency over four years, totaling $1.4 billion, will help expand existing ComEd programs for business customers including product rebates, energy assessments, weatherization, and retrofitting initiatives, according to the utility. ComEd anticipates that the program will also help create thousands of jobs related to clean energy.
The new energy efficiency funding program extends the reach of ComEd’s established Energy Efficiency Program that started in 2008. Since then, their customers in Illinois have saved $2.5 billion — a figure that is expected to nearly double within the next four years. ComEd has approximately 10 million customers total, including about 3.8 million in northern Illinois.
“Illinois already enjoys some of the lowest electricity bills in the Midwest because of energy efficiency, and the Future Energy Jobs Act expands on that, establishing one of the nation’s most ambitious efficiency programs,” Dave Kolata, executive director of the nonprofit Citizens Utility Board, said in the ComEd announcement.