WASHINGTON, D.C. – December 5, 2013 – (RealEstateRama) — Today Representatives Jared Polis (CO-02), Ben Ray Luján (NM-03), and Ann McLane Kuster (NH-02) introduced the Renewable Electricity Standard Act of 2013, which would establish the first national renewable energy standard, requiring utilities to generate 25 percent of their electricity from renewable energy sources like wind, solar, and biomass by 2025. Over the next twelve years the bill gradually increases renewable energy production from 6 percent by 2014 to 25 percent by 2025. Municipal and publicly-owned power facilities and rural electric co-ops are exempt from the bill.
Twenty nine states, including Colorado, New Mexico, and New Hampshire, already have renewable generation standards. By advancing the production of clean renewable energy sources in all states, the Renewable Electricity Standard Act would spur innovation, capital investments, and job growth across the country while enhancing energy security and reducing pollution.
“This is common sense legislation that ensures the United States keeps up with the 138 other countries that already have renewable energy goals or requirements in place. In 2012, Colorado ranked 6th in the nation for wind power and as a result the state has benefitted from the heightened investment and innovation that comes with more renewable energy production,” said Rep. Polis. “With a national standard, every state in the nation would be able to reap the benefits of renewable energy, which stimulates jobs and economic growth while reducing carbon emissions and slowing global warming.”
Studies indicate that a national renewable energy standard would:
Create approximately 274,000-297,000 jobs;
Save consumers almost $100 billion on their utility bills by 2030;
Provide $13.5 billion to farmers, ranchers and other landowners in the form of lease payments; and
Add $11.5 billion in new local tax revenues.