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IN SB0318
Bill
AI Summary
SB 318 Summary
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Establishes mandatory renewable energy standards requiring electricity suppliers to supply increasing percentages of electricity from renewable sources, starting at 5% by December 31, 2018, and reaching 25% by December 31, 2028.
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Creates the renewable energy resources fund, funded by penalties of $50 per megawatt hour for suppliers failing to meet renewable energy requirements, with funds supporting renewable energy research, manufacturing grants, and education programs.
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Defines renewable energy resources to include solar, wind, hydropower, geothermal, fuel cells, methane systems, sawmill waste, agricultural waste, and energy efficiency measures installed after January 1, 2018.
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Allows electricity suppliers to own, generate, purchase, or trade renewable energy credits (RECs) to comply with standards, with bonus REC multipliers for Indiana-made equipment, Indiana-constructed facilities, and peak demand availability.
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Repeals the previous voluntary clean energy portfolio standard program and requires the utility regulatory commission to adopt compliance guidelines for former program participants.
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 voluntary clean energy portfolio standard (CEPS) program in complying with the new renewable energy standards. Repeals IC 8-1-37 (voluntary CEPS program).
Last Action
First reading: referred to Committee on Utilities
1/4/2018