Electric utility regulation; mandatory renewable energy portfolio standard. (HB1451)

Introduced By

Del. Rip Sullivan (D-Arlington) with support from co-patrons Del. Jennifer Carroll Foy (D-Woodbridge), and Del. Alfonso Lopez (D-Arlington)

Description

Electric utilities; mandatory renewable energy portfolio standard. Replaces the existing voluntary renewable energy portfolio standard (RPS) program with a mandatory renewable energy portfolio standard program that requires each electric utility to generate or purchase increasing percentages of electric power that is generated from renewable energy sources. The required percentages start at 14 percent of the total electric energy sold in 2021. Thereafter the required percentages increase in steps until 2050 and thereafter, in which years 100 percent of the total electric energy sold is required to be renewable energy. The measure also requires that the sources of renewable energy be derived from one of several tiers, with required percentages varying over time. A utility that fails to comply with an RPS standard established for a year is required to pay a deficiency payment. The moneys paid as deficiency payments will be distributed by the Department of Mines, Minerals and Energy to programs for low-income, disability, veteran, and age-qualifying energy efficiency programs and renewable energy programs, energy efficiency measures for public facilities, and administrative costs. The measure also requires the State Corporation Commission to implement an energy storage deployment target of 2,400 megawatts by 2035. Read the Bill »

Status

02/24/2020: Passed the Senate

History