Federal Renewable Energy Standard: Boosting Clean Power and Community Investment
This Act mandates large electricity suppliers to significantly increase the share of renewable energy they sell, aiming for 70% by 2034. The law requires that a portion of renewable energy credits come from distributed generation and from communities historically burdened by environmental injustice. The goal is to reduce pollution, provide economic benefits, and promote competition in the clean energy market.
Key points
Mandates large utilities to increase clean energy sales to 70% by 2034 using a federal renewable electricity credit system.
Requires that for specific periods, at least 15% (2025-2028) or 20% (2029-2034) of credits represent electricity from distributed generation and impacted communities.
Alternative compliance payments are directed to states, which must ensure at least 50% of these funds benefit impacted communities.
Expired
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