SB 154 - The act creates requirements for retail suppliers of electrical energy to generate or purchase electricity generated from renewable energy resources. Electricity from renewable sources must constitute certain percentages of retail sales for each supplier beginning with 1% of sales after December 31, 2009 and gradually climbing to no less than 10% of sales in each year after December 31, 2021.
Renewable energy credits may be used to satisfy the renewable requirement provided that any utility taking advantage of such an option submits documentation to both the Department of Natural Resources and the public service commission demonstrating the acquisition of these credits. The act allows any utility who meets the renewable targets to receive additional credit if they purchase the renewable resources from within the state.
The act provides the option of selling excess credits to any utility that exceeds the act's renewable energy requirements. The department shall create a certification process for power generated from and used for the renewable energy requirement. Criteria for such a process is described in the act as are environmental restrictions for any power generated from renewable sources. Penalties for any utility that does not meet the targeted renewable objectives are described in the act.
Any electricity supplier who meets the renewable targets may receive additional credit if: the supplier purchases the renewable resources from within the state, the renewable resource project commenced construction after December 31, 2006, and the renewable energy developer used certain apprentice programs.
The act requires utility companies to disclose information on the generation attributes of electricity sold by the supplier upon customer request.
This act is similar to SB 843 (2006).