Renewable Electricity Standard Act
This bill requires retail electric suppliers to generate a significant amount of electricity from renewable energy resources.
The Department of Energy must establish a program to (1) verify and issue federal renewable energy credits to generators of renewable energy; (2) track the sale, exchange, and retirement of the credits; and (3) enforce the federal renewable energy credits program.
The bill prescribes rules for federal renewable energy credit trading and for borrowing and repayment of federal renewable energy credits.
The bill establishes a state renewable energy account to provide grants for promoting renewable energy production and providing energy assistance and weatherization services to low-income consumers.