Illinois Moves to Ban Carbon Sequestration Near Aquifers Amidst Criticism of Insurance Companies
Illinois lawmakers have moved forward a bill to prohibit CO2 sequestration near aquifers, following a leak at another site. Meanwhile, consumer groups have slammed insurance companies for supporting oil and gas projects while hiking premiums due to climate-related weather events.
In Illinois, a bill has progressed that would ban CO2 sequestration over, under, or through parts of aquifers. This comes after a leak was discovered at a separate site. The measure aims to protect water supplies from potential contamination.
Consumer groups have criticized insurance companies for underwriting oil and gas projects while increasing premiums for customers. They argue that these companies should not be profiting from projects that contribute to climate change, which in turn causes extreme weather events.
In North Illinois, the approval for large solar parks by PJM was expected in 2023. However, solar developers have dropped plans for dozens of utility-scale solar projects due to PJM's slow interconnection process.
Indiana lawmakers are considering legislation to reduce the cost of rooftop solar installations at warehouses and big-box stores. This could make solar power more accessible and affordable for businesses.
Wisconsin regulators have given the green light to a utility's plan for a 20 MW solar project with 40 MW of battery storage outside Madison. This project will help to stabilize the grid and provide backup power.
Officials in Iowa's second most-populous county are preparing updates to zoning regulations as an energy company plans to restart the state's only nuclear plant. This move could help to meet increasing energy demand while reducing emissions.
The owner of a shuttered Wisconsin nuclear power plant is partnering with WEC Energy to explore small modular reactors at the dormant site along Lake Michigan. This could provide a source of clean, reliable power in the future.
Illinois is among states experimenting with alternative rate structures to reduce emissions from industrial facilities. The aim is to encourage companies to switch from gas to electricity. Similarly, Lansing, Michigan has launched an initiative to cut emissions from aging buildings by 2030 through strong energy efficiency measures.
These developments highlight the ongoing efforts to balance energy needs with environmental concerns. While some states are exploring clean energy options and improving grid reliability, others are taking steps to protect natural resources and reduce emissions. The debate around insurance companies' role in supporting fossil fuel projects also underscores the complex nature of transitioning to a low-carbon economy.
