The Michigan Board of State Canvassers has approved the final language that will appear on the ballot question of whether to increase the state's renewable portfolio standard (RPS) to 25% by 2025, according to Michigan Energy Michigan Jobs, a bipartisan coalition of local businesses, labor organizations and healthcare advocates that supports the initiative.
If passed by voters this November, the proposal would do the following:
Require electric utilities to provide at least 25% of their annual retail sales of electricity from renewable energy sources - which include wind, solar, biomass and hydropower - by 2025;
Limit, to not more than 1% per year, electric utility rate increases charged to consumers only to achieve compliance with the RPS;
Allow annual extensions of the deadline to meet the 25% standard in order to prevent rate increases over the 1% limit; and
Require the legislature to enact additional laws to encourage the use of Michigan-made equipment and employment of Michigan residents.
The state's current RPS is 10% by 2015 for all utilities, with carve-outs of 300 MW of new renewables by 2013 and 600 MW of new renewables by 2015 for DTE Energy, and 200 MW of new renewables by 2013 and 500 MW of new renewables by 2015 for Consumers Energy.
