The bill updates the renewable energy standard to require that all electric utilities, including cooperative electric associations and municipally owned utilities, derive their energy from 100% renewable sources by 2035. The bill also:
- Removes recycled energy from the types of energy sources eligible for meeting the renewable energy standard;
- Allows a utility to obtain energy efficiency credits equal in value to renewable energy credits based on any energy efficiency upgrades made for a low-income residential customer;
- Removes multipliers used for counting certain renewable energy generated; and
- Phases out the system of tradable renewable energy credits so that renewable energy generated after 2035 is not eligible for renewable energy credits.
(Note: This summary applies to this bill as introduced.)