The renewables portfolio standard is an initiative that requires states to develop plans to generate energy from renewable resources. There are four main areas to be focused on: Nevada, California Connecticut, New York and Connecticut. Each state has its own rules and regulations regarding renewable energy generation. These are discussed in greater detail below. In addition to renewable energy resources, the standards also require states to identify eligible generation resources. Although nuclear energy is not typically considered a renewable resource, some states are considering incentives for nuclear power plants. Although nuclear electricity is largely carbon-free and emission-free, it is not considered a renewable resource. These state policies are commonly referred to by the terms clean energy targets, emission-free electricity targets, or renewable portfolio standards.
California
California Renewables Portfolio Standard (RPS), a program that encourages the use of renewable energy, is called California Renewables Portfolio Standard. RPS is designed increase the percentage of renewable energy within the state's electric supply. Investor-owner utilities, small utilities and multijurisdictional utility must generate at least 33% electricity from renewable sources by 2020. The goal is to achieve sixty percent by 2030. This helps to reduce greenhouse gas emissions, lower electricity bills, stabilize rates, and ensures that the grid is more reliable.
Nevada
In 1997, Nevada's Renewables Portfolio Standard (RPS), was adopted for the first time. As technology improved, the standard was later revised to better meet current standards. The goal of the standard is to reduce dependence on fossil fuel-fired energy plants and increase the use of renewable energy in electricity supply. The change in electricity supply can therefore be viewed as a positive for the environment, public health and energy costs. Nevada has a wide range of renewable energy options that can be used by utilities to meet demand.
Connecticut
The Renewables Portfolio Standard is a mandate for Connecticut's energy providers to get a specific percentage of their electricity renewable by 2020. The RPS mandates that retailers purchase 20% of their energy renewable. The state has set a higher goal of 40% renewable energy in 2040. The RPS also requires a state-wide plan to encourage the development and deployment of renewable energy resources. Connecticut's goal is to reach the RPS by 2020.
New York
The New York State Renewables Portfolio Standard, (RPS), aims to increase the proportion of renewable energy in a utility’s electricity portfolio. This goal is consistent the state's Energy Plan. It aims to generate 2,400MW offshore wind by 2030. New York utility companies are required to generate 12.5% of electricity from renewable sources by 2021 and 10% in 2018. The RPS also requires utilities create demonstration parks for renewable energy.
Puerto Rico
The state legislature of Puerto Rico has passed a bill requiring utilities to meet a renewables portfolio standard of at least fifty percent by 2050. California, Hawaii, Washington, D.C., all have passed similar bills to help them achieve their 100% renewable energy goal. High costs associated with fossil fuels have been a problem for the island. The new law will take effect upon the governor's signature. This bill is intended to reduce the island's environmental impact and lower the island's electricity bills.
Maryland
Maryland's Renewables Portfolio Standard (RPS), is a requirement that electricity suppliers meet a certain amount of renewable energy. This standard is applicable to both competitive suppliers and electric companies that offer Standard Offer Service (SOS). To verify they meet the renewable requirement, each year electricity suppliers submit a compliance report to the Commission. This report is useful for consumers to make informed decisions about their energy needs. This is an important issue for Maryland.