CHICAGO- Senator Willie Preston (D-16th District) filed Senate Bill 2689 designed to continue the move to a carbon free energy supply while safeguarding future ratepayer risks associated with spiking energy costs.
“After listening to the August 18th Senate Energy Committee hearing, where special interests continued to offer the same tired arguments and repeated unfulfilled promises, particularly as they relate to my community, I felt compelled to take specific and effective action to help my constituents and all of Illinois with rising energy costs. This bill will enable Illinois to continue to press forward towards an affordable, reliable, and sustainable energy future regardless of who sits in the Oval Office, while not holding the pocket book of hardworking families hostage to unsubstantiated future promises.”
Senate Bill 2689 authorizes the Illinois Finance Authority to make loans to battery energy storage companies to build energy storage facilities in Illinois. Unlike SB40, the Energy Omnibus bill pushed by special interests, Illinois ratepayers would not be required to pay for these facilities.
“Instead of soaking ratepayers for even more money, as some propose, the businesses that are going to reap the rewards should also take the risk,” explained the Senator. “In fact, by creating a loan program, the state will earn a return on its investment and those funds can be reinvested to meet the broken climate justice promises from CEJA and support future energy needs.”
Despite promises from special interests and mandatory targets set in CEJA, a June 2025 Illinois Auditor General’s report found that CEJA has failed to deliver on its promise of climate equity.
“The same special interests that promised climate equity as part of CEJA are back and at the hearing said they need more money to meet CEJA’s goals. I am more concerned about the hardworking dad who needs more money to pay his electric bill due to these unfulfilled promises or the single mom working two jobs who chooses to go hungry to feed her children and make sure they have electricity so they can do their homework than I am with providing more money for programs that failed and promises that were broken.”
Senator Preston knows that his proposal will be criticized by some in the energy storage community looking for a handout at the expense of Illinois ratepayers but noted that these same companies are growing rapidly and securing financing without needing funding from ratepayers in neighboring states like Michigan.
“Everyday my constituents have to bet on themselves to make ends meet. SB2689 allows the battery storage industry to bet on themselves while not gambling with the money of hardworking families and holding their pocket book hostage. I don’t think that is too much for us to ask, and expect, as legislators.”
Senator Preston confirmed plans to file a companion bill in the House.
