MD SB706

Reduces Maryland's Tier 1 renewable energy requirements for electricity suppliers: from 41.5% to 26% in 2027, from 43% to 27.5% in 2028, from 49.5% to 34% in 2029, and from 50% to 34.5% in 2030 and later

Maintains existing sub-requirements within Tier 1 for solar energy (9.5% to 14.5% depending on year), offshore wind energy (400-1,200 megawatts of Round 2 projects), and post-2022 geothermal systems (0.75% to 1%)

Preserves Tier 2 renewable source requirements at 2.5% for all affected years

Protects existing obligations and contract rights from impairment by the changes

Takes effect October 1, 2026, applying to compliance years beginning after December 31, 2026