HB 4792 Summary

• Increases renewable energy credit standards for electric providers: 12.5% by 2019-2020, 15% annually from 2021-2034, and 50% by 2035 and thereafter.

• Establishes a nonvolumetric cost recovery mechanism for regulated electric providers with monthly rate impact caps of $3.00 per residential meter, $16.58 per commercial secondary meter, and $187.50 per commercial primary/industrial meter.

• Requires the Michigan Public Service Commission to review and approve amended renewable energy plans by April 20, 2018, using contested case hearings for rate-regulated utilities and compliance determinations for other providers.

• Permits electric providers to request up to 2 one-year extensions of the 2035 renewable energy deadline for good cause, including feasibility limitations, high costs, transmission issues, reliability concerns, labor shortages, or court orders.

• Allows energy waste reduction credits to substitute for up to 10% of required renewable energy credits, with one renewable energy credit awarded per energy waste reduction credit.