CCS/HCS/SCS/SB 915 - The "Green Power Initiative" directs electrical corporations to make a good faith effort to generate or procure renewable energy so that by 2012, three percent of total retail electric sales originates from renewable sources, increasing to seven percent by 2015 and ten percent by 2020.
The Public Service Commission shall be responsible for promulgating rules by July 1, 2007, governing the process by which the renewable energy goals and the utilities integrated resource plans are made compatible. The criteria and mechanics of the rule making process are described in the act.
The act directs electric utilities to submit a biennial report to the commission detailing plans, activities and progress with regard to the renewable energy goals set in the act. The commission shall then take that information and compile a report to be submitted to the Governor, General Assembly, and appropriate committees. In addition, the director of the department of economic development shall issue a biennial report beginning on July 1, 2009, speaking to the impact of the renewable energy goals on the state's economy, and the director of the department of natural resources shall submit a biennial report beginning on July 1, 2009, speaking to the environmental impact of the goals set in the act.
The act allows for electricity produced by fuel combustion to count towards the renewable energy goals provided the facility in question complies with all federal and state regulations. The blending or co-firing of renewable fuels with other fuels is allowed under the act, however, only the percentage of electricity that is attributable to the renewable fuels may be counted towards the goals set in the act.
The act encourages electrical corporations to develop and administer energy efficiency initiatives that reduce the annual growth in energy consumption and the need to build additional electric generation capacity.
The effective date of the act is January 1, 2007.