NC S75

Adds "electricity demand reduction" as a new option to help electric utilities meet renewable energy portfolio standards (REPS) in North Carolina, defined as voluntary, measurable, real-time reductions in customer electricity demand using two-way communications devices.

Allows electric public utilities, electric membership corporations, and municipalities to use electricity demand reduction as one method to satisfy their REPS requirements alongside existing options like renewable energy generation, energy efficiency measures, and renewable energy certificates.

Establishes REPS requirements for utilities ranging from 3% of 2011 retail sales in 2012 to 12.5% of 2020 retail sales by 2021 and thereafter.

Maintains existing caps that allow utilities to meet up to 25% of REPS through energy efficiency measures (increasing to 40% starting in 2021) and limit out-of-state renewable certificates to 25% of requirements.