Thursday, September 18, 2008

Michigan Gets Renewable Portfolio Standard

Finally we join the rest of modern civilization, and I can shut-up about this. DTE and Consumers get their 90% market share, we get the jobs and investment, and the country moves a little closer to ending our dependence on foreign oil, not to mention the benefits to the environment.

10% by 2015. It's a start.

Here are a few of the other details, courtesy of the Freep-

Under the new rules, homeowners would see their monthly bills increase by up to 2.5% a year – less than $2 for a $75 monthly bill. They also would pay a $3 flat fee to help the utilities develop alternative energy sources, primarily wind power generators.

Businesses and many school districts would see their electric rates drop, according to analysts.

The bills call for the state to increase its use of alternative energy to 10% of the total power output by 2015.

Consumers would receive state income tax credits if they purchase new, energy efficient appliances such as refrigerators and washing machines, or insulate their homes to make them more energy efficient.

The legislation also changes the way in which the state regulated electric rates. The power companies could impose higher rates before the Michigan Public Service Commission signs off on approval, although the PSC could block rate hikes it deems unreasonable.

Sounds like the same plan that the Senate rejected back in June, which begs the question - why did we have to wait so long? Maybe the devil is in the details that haven't been released yet, but for now, let's rejoice that this is finally over.

Congratulations Michigan, you can now call yourself a "green state". Very cool.