Renewable Energy Portfolio Standards. The regulations (found as of the date of this Agreement at 225 CMR 14.00) promulgated pursuant to M.G.L. c. 25A, § 11F that requires all retail electricity suppliers in Massachusetts to provide a minimum percentage of electricity from certain renewable energy generating resources.
Renewable Energy Portfolio Standards. The Company complies with Maryland’s Renewable Portfolio Standard (“RPS”) applicable to all retail electricity suppliers. The Company may retire Tier 1 or Tier 2 renewable energy credits to meet its RPS obligations. The RPS for 2022 is 30.1% from Tier 1 sources, including at least 5.5% from solar energy and a PSC-directed amount of offshore wind energy, and 2.5% from Tier 2 sources. The RPS for 2023 is 31.9% from Tier 1 sources, including at least 6% from solar energy and a PSC-directed amount of offshore wind energy and 0.05% from qualifying geothermal systems, plus 2.5% from Tier 2 sources. The RPS for 2024 is 33.7% from Tier 1 sources, including at least 6.5% from solar energy and a PSC-directed amount of offshore wind energy and 0.15% from qualifying geothermal systems, plus 2.5% from Tier 2 sources. The RPS for 2025 is 35.5% from Tier 1 sources, including at least 7% from solar energy and a PSC-directed amount of offshore wind energy not to exceed 10% and 0.25% from qualifying geothermal systems, plus 2.5% from Tier 2 sources. The RPS for 2026 is 38% from Tier 1 sources, including at least 8% from solar energy and a PSC-directed amount of offshore wind energy including at least 400 megawatts of Round 2 offshore wind products and 0.5% from qualifying geothermal systems, plus 2.5% from Tier 2 sources. The RPS for 2027 is 41.5% from Tier 1 sources, including at least 9.5% from solar energy and a PSC-directed amount of offshore wind energy including at least 400 megawatts of Round 2 offshore wind products and 0.75% from qualifying geothermal systems, plus 2.5% from Tier 2 sources. The RPS for 2028 is 43% from Tier 1 sources, including at least 11% from solar energy and a PSC-directed amount of offshore wind energy including at least 800 megawatts of Round 2 offshore wind products and 1% from qualifying geothermal systems, plus 2.5% from Tier 2 sources. The RPS for 2029 is 47.5% from Tier 1 sources, including at least 12.5% from solar energy and a PSC-directed amount of offshore wind energy including at least 800 megawatts of Round 2 offshore wind products and 2% from qualifying geothermal systems, plus 2.5% from Tier 2 sources. The RPS for 2030 and later is 50% from Tier 1 sources, including at least 14.5% from solar energy and a PSC-directed amount of offshore wind energy including at least 1,200 megawatts of Round 2 offshore wind products and 1% from qualifying geothermal systems, plus 2.5% from Tier 2 sources. Alternatively, the Company may meet its RP...
Renewable Energy Portfolio Standards. Company complies with Maryland’s Renewable Portfolio Standard (“RPS”) applicable to all retail electricity suppliers. Company may retire Tier 1 renewable energy credits to meet its RPS obligations. The RPS for 2021 is 30.8% from Tier 1 sources, including at least 7.5% from solar energy and a PSC-directed amount of offshore wind energy, plus 2.5% from Tier 2 sources. The RPS for 2022 is 30.1% from Tier 1 sources, including at least 5.5% from solar energy and a PSC-directed amount of offshore wind energy, and 2.5% from Tier 2 sources. The RPS for 2023 is 31.9% from Tier 1 sources, including at least 6% from solar energy and a PSC-directed amount from offshore wind energy and 0.05% from qualifying geothermal systems, plus 2.5% from Tier 2 sources. The RPS for 2024 is 33.7% from Tier 1 renewable sources, including at least 6.5% from solar energy and a PSC- directed amount of offshore wind energy and 0.15% from qualifying geothermal systems, plus 2.5 from Tier 2 sources. Alternatively, Company may meet its RPS obligation by paying a compliance fee to the Maryland Renewable Energy Fund. The compliance fees for each kWh shortfall are: 3 cents for Tier 1 non-solar (2021 through 2023); 2.75 cents for Tier 1 non-solar (2024); 8 cents for Tier 1 solar (2021); 6 cents for Tier 1 solar (2022); 6 cents for Tier 1 solar (2023 through 2024); 10 cents for geothermal (2023 through 2025).
