The bill amends Section 39-26-4 of the General Laws concerning the Renewable Energy Standard in Rhode Island. It establishes a schedule for obligated entities to obtain a progressively increasing percentage of their retail electricity sales from eligible renewable energy resources, starting at three percent in 2007 and escalating to a target of one hundred percent by 2044. Key changes include the replacement of specific percentage requirements for certain years, with new percentages for compliance years extending to 2044. For instance, the bill sets an additional six percent (6%) of retail electricity sales in 2036, seven percent (7%) in 2037 and 2038, seven and one-half percent (7.5%) in 2039, eight percent (8%) in 2040, eight and one-half percent (8.5%) in 2041, nine percent (9%) in 2042, and nine and one-half percent (9.5%) in 2043, to achieve the goal that one hundred percent (100%) of Rhode Island's electricity demand is from renewable energy by 2044 and each year thereafter.

Additionally, the bill outlines that the maximum amount of retail electricity sales derived from existing renewable energy resources shall not exceed two percent of total retail sales for each obligated entity. It also allows for the possibility of municipalities to include voluntary renewable energy products in their aggregation plans and mandates a review of the impact of such allowances by 2024. The act will take effect upon passage, reinforcing Rhode Island's commitment to renewable energy and sustainability.

Statutes affected:
2521: 39-26-4