North Carolina’s 2007 Renewable and Efficiency Portfolio Standard
On August 20, 2007, North Carolina became the 25th state – and the first in the Southeast – to enact a mandatory renewable energy and energy efficiency portfolio standard (REPS) into law. The new law – known as Session Law 2007-397 – requires that a percentage of the electricity sold at retail by all North Carolina electric utilities be generated by renewable energy resources or replaced by energy efficiency.
The NC REPS requires North Carolina’s three investor-owned utilities – Duke Energy Carolinas, Progress Energy Carolinas, and Dominion North Carolina Power and electric membership cooperatives and municipal utilities- to meet at least 10% of their annual electricity output with renewable energy by year 2021. Out-of-state renewable generation may only account for 25% of the REPS requirements.
Solar energy is a key part of the REPS where it enjoys a “set aside” for either solar thermal or solar electric generation. The percentages and milestones for solar are: .02% of sales by 1/1/2010, .07% of sales by 1/1/2012, .14% of sales by 1/1/2015 and finally .20% of sales by 1/1/2018. This will result in approximately 30 MW of new solar generation by 2010 and 300 MW by 2018.
The Triple Bottom Line
The Economical, Environmental and Social Benefits of Solar Energy
Why Solar? The answer comes up every morning!
- The use of commercial scale, visually unobtrusive, distributed PV Solar systems offsets the need for building new coal and natural gas “peaker” power plants.
- PV solar generators can be located at or near electric loads reducing demands on the electric transmission and distribution grids.
- Solar electricity is clean, inexhaustible, available at times of peak energy demand, involves no moving parts and needs little maintenance.
- Because it can be placed in communities, distributed solar generators can provide excellent publicity for utilities and companies.
- Solar energy installations create local jobs that grow local communities and promotes and strong and sustainable green economy.
- Investment in renewable energy is a keystone for creating a truly secure and independent energy future for America.