RPS, RECs, & PPAs
Massachusetts' state investor-owned electric distribution companies in coordination with the Massachusetts Department of Energy Resources have issued an RFP for 400 MW of offshore wind generation (including RECs) and the associated transmission. The contracts are for a 15 - 20 year period. The projects must enter commercial operations before January 1, 2027.
The Maryland Offshore Wind Energy Act of 2013 requires a maximum of 2.5% of retail electricity to be generated from offshore wind starting in 2017. The wind carve-out is part of the Tier 1 requirement. The Act promotes Maryland's economy by requiring offshore projects to favor in-state manufacturing in order to be considered by the Maryland Public Service Commission.
H.B. 7413 enacted on June 2016 extends the state Renewable Energy Standard (RES) to 2035, which was previously set to expire at the end of 2019. The RES is set to increase by 1.5% annually, thereby requiring 38.5% of the total retail electricity be obtained from eligible renewable resources by 2035.
The database provides summaries of federal financial incentives and rules, regulations, and policies that promote renewable energy and energy efficiency, including: business energy investment tax credit (ITC); renewable electricity production tax credit (PTC); and, section 1603 Department of Treasury renewable energy grant program.
Link to DSIRE website: Federal page
A new study, conducted by the Special Initiative on Offshore Wind for the Energy Research and Development Authority, offers a roadmap of key strategic steps can take to reduce costs of offshore wind power over the next decade. The study finds that ongoing technology and industry advances combined with actions could take, independently or with other states, could lower costs for offshore wind power as much as 50 percent and bring the clean-energy source closer to realizing its potential for "delivering utility-scale renewable electric generation" to and nearby areas such as .
The study identifies multiple paths for reducing offshore wind power costs in , emphasizing that the "State can take actions in the near term to lower its costs substantially, independent of expected external reductions over the next decade." The study finds that taking advantage of wind turbine innovations and other technology and industry advances could lower costs about 20 percent. Direct steps taken by could contribute up to an additional 30 percent reduction in a project's cost.http://www.ceoe.udel.edu/File%20Library/About/SIOW/New-York-Offshore-Wind-Cost-Reduction-Study-ff8-2.pdf
A Senate Resolution urging the Board of Public Utilities to expeditiously adopt regulations pursuant to the “Offshore Wind Economic Development Act” to implement an offshore wind renewable energy certificate program and pursuant to the “Electric Discount and Energy Competition Act” to establish energy efficiency portfolio standards. http://www.njleg.state.nj.us/2014/Bills/SR/112_I1.HTM
This bill would require the Board of Public Utilities to approve a qualified wind energy project that is located in territorial waters offshore of a municipality in which casino gaming is authorized as provided in section 4 of P.L.2010, c.57 (C.48:3-87.2). The bill would also remove the requirements that (1) the entity seeking to construct the project prepare and submit a cost-benefit analysis to the board, and (2) the board's approval of the project depend in part upon the results of a cost-benefit analysis.