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SCS/SB 915 - The act directs electrical corporations to make a good faith effort to generate or procure energy originating from renewable sources. The act sets goals for the use of renewable energy, at least three percent by the year 2012, at least seven percent by the year 2015 and at least ten percent by the year 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. No electrical corporation shall make an application to the Commission for an increase in its rate schedule to reflect a decrease in residential and commercial customer usage of nonrenewable energy sources due to the increased usage of renewable energy sources. 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 of no more than 50 pages to be submitted to the Governor, General Assembly, and appropriate committees. The act creates the "Residential Alternative Energy Tax Credit Program". If a taxpayer with a federally adjusted gross income of $30,000 or less incurs costs for installation of solar electric panels, energy-efficient appliances, heating and cooling systems, or windows, the taxpayer may claim a tax credit equal to the lesser of 100% of the costs or $1,000. The aggregate amount of the tax credits allowed under this program cannot exceed $50,000 per fiscal year. This program shall apply to all tax years beginning on or after January 1, 2007. The effective date of the act is January 1, 2007. MEGAN WORD
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