Chicago really hit the Big Time with government financial incentives. Chicago has done well via Springfield too.
[Emil] Jones [highly pensioned former IL Senate leader], 72, is an unabashedly old-school politician. A former sewer inspector for the city of Chicago, Jones has relatives on the state payroll, steers state grants to favorite organizations and uses his clout to punish enemies and bury GOP legislation.
Pat sent this press release below from that nuclear power plant down the road. Great news for us would be if Exelon stock was jumpin’ yesterday, but it’s not. If it follows any other governmental ‘incentive’ news in the last few months, it’ll drop like a rock.
Exelon plans to lease 39 acres of the West Pullman Industrial Redevelopment Area from the City of Chicago for the project. The former industrial site is a “brownfield” property that will be redeveloped for productive reuse. Exelon Generation will own and operate the plant and market the electricity and Solar Renewable Energy Certificates (SRECs) it generates. SunPower, a manufacturer of high-efficiency solar cells, solar panels and solar systems, will design, manufacture and install the solar system.
“With nearly 2,000 megawatts of renewable power in our energy portfolio, including hydro-electricity, wind, landfill gas and solar, Exelon is investing aggressively but wisely in renewables as part of our comprehensive environmental strategy, Exelon 2020,” said Exelon Chairman and CEO John W. Rowe. “As a provider of electrical service in urban areas, we understand the importance of finding urban locations for renewable energy and we are pleased to bring the largest urban solar installation to West Pullman, helping to revitalize an area where industry once thrived.”
I don’t know where our bread ‘n butter will be after next month, but it will be primarily nuclear power related. (I could always teach in the schools, I suppose. That would be as ironic as finally benefiting from nuclear powered stock gains.) Maybe he’ll even work in France; where they love their nuclear plants.
I’d better mind my p’s and q’s. I’m hoping we can plan a couple more homeschool field trips in the simulator before he’s outa there.
Chicago Trib has this to add about Chicago’s sunshine:
"Chicago has better sun than Germany," Blunden said. "And Germany is the largest solar market in the world today." The economic stimulus package made funds available for more solar power projects. The Energy Department can guarantee the loans used to pay for construction. So Exelon can explore renewable energy, even though the parent of Chicago utility Commonwealth Edison Co. has staked its future on expanding its fleet of 17 nuclear reactors. "We’re a nuclear company," said O’Neill. "But we know which way the wind blows, no pun intended. Nothing is off the table."
In front of the Exelon Pavilion before a Bow-dacious String Band performance at Millennium Park
There’s always the political gains in funding Illinois ethanol plants too.
Nov. 6 (Bloomberg) — President-elect Barack Obama plans to support unprofitable U.S. ethanol producers and pursue the same policies that failed George W. Bush.
Obama, the Democratic senator from Illinois, the second- biggest corn-growing state, will maintain Bush’s goal requiring fuel producers use at least 36 billion gallons of biofuels in 2022, said Heather Zichal, the campaign’s senior energy adviser. The ethanol industry, which loses about 66 cents a gallon at current prices, will receive at least as much support as from the current administration, including tax credits to spur consumption, she said.
Failed Bush policies continued….