The Status of State RPS Efforts - Trends and Challenges -. Vermont RPS Study Public Service Board Workshop January 27, 2011. Mark Sinclair Clean Energy States Alliance. What Is a Renewables Portfolio Standard?. A requirement on retail electric suppliers…
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Vermont RPS Study
Public Service Board Workshop
January 27, 2011
Clean Energy States Alliance
Typically backed with penalties of some form
Often accompanied by a tradable renewable energy credit (REC) program, to facilitate compliance
Never designed the same in any two states
Electronic REC tracking systems are prevalent
Most state RPS policies now allow unbundled RECs (often with some restrictions)
Exceptions are Arizona, California, Hawaii, and Iowa
REC definitions are not uniform across states
Electronic REC Tracking Systems
Dominated by long-term bundled contracts for electricity and RECs
Utility RFP solicitations or bilateral negotiations, with regulatory oversight
More often dominated by short-term trade in RECs, without PUC oversight
Developers often sell electricity and RECs separately
Two states require a government-directed agency to conduct procurements under the RPS: New York and Illinois
Sources: New Jersey Clean Energy Program (NJ), Spectron (NH), PJM-GATS (all other states). Plotted values are the weighted average selling price, except NH, where they are the mid-point of the reported Bid and Offer prices for the current or nearest compliance year.
Renewable projects are capital intensive, and concerns about the challenges of project financing with REC price variability has spurred some states to adopt provisions to help projects secure financing
Environmental Energy Technologies Division • Energy Analysis Department
State RPS’ Have Largely Supported Wind: Resource Diversity Limited So Far
No differential support CA, IA, KS, WI
The constitutionality of RPS “in-state generation” requirements has long been an open question. Until recently, no party has felt sufficiently aggrieved to issue a challenge.
Growing Demand for Renewable Electricity
Emerging Barriers To Address
ACELA (Bingaman RES) RES - Comparison with BAU
Total Renewable Energy Generation*
Percent of U.S. Sales
***Does not include banking or DG multiplier***
High RE Case: 30 states opt into EE + states do not allow trading of RE credits from higher state standards to other states for federal RES compliance.
Low RE Case: All states opt into EE, + states do allow trading of RE credits from higher state standards.
*In addition to hydro & MSW. Sources: EIA ( AEO 2010, STEO), UCS.
Source: Jeff Deyette, UCS
Clean Energy States Alliance
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