LD 1494 – An Act To Reform Maine’s Renewable Portfolio Standard
This bill increases the percentage of supply sources for retail electricity sales in the State that must be accounted for by new renewable capacity resources from 10% to 50% by 2030. It also makes several changes to resource eligibility to meet these requirements. The bill also creates a renewable portfolio standard for thermal energy resources.
The bill also directs the Public Utilities Commission to procure long-term contracts for an amount of renewable capacity resources that is equal to 1/2 the amount of the portfolio requirements for these resources. The bill requires the commission to conduct annual competitive solicitations for the long-term contracts.