MI HB5907

Increases renewable energy credit portfolio requirements to 20% by 2020 and maintains that level through 2021 and beyond, up from the original 10% standard.

Modifies renewable energy capacity requirements for large electric utilities: 584 megawatts by December 31, 2015 (increased from 500 megawatts) for providers with 1-2 million customers, and 600 megawatts by December 31, 2015 for providers with over 2 million customers.

Extends the compliance timeline by allowing the Public Service Commission to grant one extension of up to one year for the 2015 or 2020 renewable energy standard deadlines, eliminating the previous provision allowing two extensions.

Establishes compliance mechanisms allowing electric providers to meet standards through renewable energy generation, purchasing renewable energy credits, or substituting energy optimization credits and advanced cleaner energy credits (with a 10% cap on substitutions).

Requires regulated utilities to recover all reasonable and prudent incremental compliance costs through retail rates over a 20-year period, with deferred cost recovery provisions if rate impact limits under section 45 are exceeded.