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IN HB1121
Bill
Status
1/8/2015
Primary Sponsor
Ryan Dvorak
Click for details
AI Summary
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Requires electricity suppliers to meet escalating renewable energy standards, starting at 5% by December 31, 2015 and increasing 2% annually until reaching 25% by December 31, 2025.
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Establishes the renewable energy resources fund, funded by $50 per megawatt hour penalties from suppliers failing to meet renewable energy standards, continuously appropriated and administered by the Indiana Economic Development Corporation.
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Defines eligible renewable energy resources including solar, wind, hydropower, biomass, fuel cells, and energy efficiency measures installed after January 1, 2015.
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Creates a renewable energy credit (REC) trading system with multipliers for Indiana-generated sources and equipment, peak demand availability, and facilities using Indiana workers.
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Repeals the voluntary Clean Energy Portfolio Standard (CEPS) program and requires the utility commission to establish rules for REC certification and trading by July 1, 2015.
Legislative Description
Renewable energy standards. Requires an electricity supplier to supply a certain percentage of its total electricity supply from renewable energy resources. Establishes the renewable energy resources fund to receive penalties paid by electricity suppliers that fail to supply electricity from renewable energy resources. Continuously appropriates money in the fund. Requires the utility regulatory commission to adopt guidelines to assist electricity suppliers that participated in the CEPS program in complying with the new renewable energy standards. Repeals IC 8-1-37 (voluntary clean energy portfolio standard (CEPS) program).
Last Action
First Reading: referred to Committee on Utilities, Energy and Telecommunications
1/8/2015