Earlier today, the D.C. Council voted to expand the District’s Renewable Portfolio Standard. It did so by a unanimous voice vote in a final hearing of the bill. The now goes to the Mayor for approval.
The legislation (bill text) increases the RPS to 50% by 2032. This means utilities that serve D.C. residents must source at least half the electricity they generate from renewable sources such as solar. The new target also includes a 5% carve out for solar.
Today’s vote makes solar in D.C. more valuable.
Utilities can meet the RPS target by directly purchasing renewable energy credits (RECs) from the owners of renewable energy sources, such as rooftop solar.
Today’s bill increases the amount utilities must pay if they do not meet the RPS goals. This in turn will increase the value of RECs generated by solar systems in D.C.