The State of Connecticut has two proposed bills that could potentially affect Renewable Portfolio Standards (RPS). On January 22, 2013, Rep. Lawrence Miller (R) introduced House Bill (HB) 5475, which aims to provide additional time for compliance with the RPS requirements by extending each deadline beginning in 2016. On January 25, 2013, Rep. John E Piscopo (R) introduced HB 6086 with the purpose of amending general statutes to “include all types of hydropower as a Class I renewable energy source”. All hydropower currently defined as Class II renewable energy sources would be included in the Class I renewable energy source classification, according to the bill’s statement of purpose.
As 2012 begins, we are witnessing a worldwide resurgence of interest in renewable woody biomass as a coal substitute or supplement for power generation, with North America serving as an important global supplier of sustainable biomass. “Woody biomass” refers to whole trees, forest residues (including the residue for lumber production) and waste wood that can be combusted to generate power. Biomass offers significant advantages over other renewable resources such as solar, wind and hydropower because it is a base-load resource. As more intermittent resources come on line, biomass affords utilities and ISOs a reliable option, making it one of the only renewable fuels offering a viable alternative to coal-based generation.
As of 8 September 2010, the DOER has qualified 8.1 MW of SREC projects. Excluding those with pre‐ 2010 contracts, we estimate the remaining market for 2010 is 9,500 to 13,300 SRECs. The 2011 Minimum Standard is raised to 78,577 SRECs following the TransCanada settlement, making the market potential for 2011 approximately 63,000 SRECs.
The New Jersey (NJ) Renewable Portfolio Standard (RPS) includes the most ambitious solar carve out of the U.S. states. The 2010 target of 180 gigawatt hours (GWh) of Solar Renewable Energy Credits (SRECs) is unable to be met by the 141 GWh available generation capacity since 2007.
The Massachusetts SREC market has suffered an initial, partial setback in the implementation of its solar carve‐out pricing. The Massachusetts Department of Energy Resources (DOER) set the states’ first solar carve‐out target at 30MW (34,164 MWh or SRECs), known as the 2010 Minimum Standard.