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Energy Storage Can Minimize Major Price Spikes
Thursday, Nov 14, 2024 - Posted by Advertising Department [The following is a paid advertisement.] Each month, families and businesses pay a capacity charge through their energy bill. It’s essentially an insurance policy that pays energy resources (or “capacity”) to be available for when the grid needs them most. Grid operators project a possible shortage of capacity in the coming years, which means the charge for this insurance policy will rise next year for many Illinoisans. Batteries, or energy storage, are currently the best solution to minimize this price spike (which could be as high as $30 in 2026)—but building them at the pace we need will require legislation. The added benefit is the ability to store cheap electricity for use when demand peaks during the day—lowering energy bills and making the grid more reliable. Learn more about legislation that builds urgently needed energy storage here.
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