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“RENEWABLE PORTFOLIO STANDARD” mentioning the U.S. Dept. of Energy was published in the Extensions of Remarks section on pages E461 on March 13, 2003.
The publication is reproduced in full below:
RENEWABLE PORTFOLIO STANDARD
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HON. MARK UDALL
of colorado
in the house of representatives
Thursday, March 13, 2003
Mr. UDALL of Colorado. Mr. Speaker, today I am introducing a bill with my cousin Rep. Tom Udall to establish a federal renewable portfolio standard (RPS).
The electric utilities throughout the country have done a good job providing this nation with reliable energy. They have done so well, in fact, that we take our energy for granted.
But as demand continues to grow, we need to make sure that we continue to have affordable and reliable supplies. And, most importantly, as we move to more competition in the delivery of electricity, we must make sure that the environment and consumers are protected. So it makes sense to put incentives in place to ensure that less polluting and environmentally friendly sources of energy can find their way into the marketplace.
But it's not enough to take protective steps. I believe it's critical that we also take affirmative steps to promote cleaner energy production. That's why I support requiring that a certain amount of our energy supplies come from renewable energy sources in the form of a renewable portfolio standard, or RPS.
The RPS is a market-friendly approach that will provide increased reliability, energy security, and environmental and health benefits. By reducing the cost of new clean technologies, it will also make more choices increasingly available in the competitive marketplace, and help restrain fossil fuel price increases by creating more competition for those fuels. The RPS creates intense competition among renewables, with the market picking winners and losers among renewable technologies, not the government.
An RPS will be good for consumers. According to the Department of Energy, an RPS will save consumers billions of dollars. An RPS will also spur economic development in the form of billions of dollars in new capital investment and in new property tax revenues for local communities, and millions of dollars in new lease payments to farmers and rural landowners. Importantly, an RPS will also keep our energy dollars at home and diversify our energy portfolio. Finally, the increased use of clean renewable energy through an RPS will take us toward a clean energy future by reducing air pollution from dirty fossil-fueled power plants that threaten public health and our climate.
We have worked hard to draft legislation that we believe will create public benefits for everyone. The renewable energy goals the bill sets are significant--requiring retail electricity suppliers to derive 20 percent of their power production from renewables by 2025. In addition, the bill is not overly burdensome for states as it gives them flexibility to achieve these goals. The bill sets up a credit trading system that allows states to buy and sell credits to meet their renewable energy goals, which will work to further reduce costs. A cap of 3 cents a kilowatt-hour protects consumers from excessive costs. The bill permits states to borrow credits against future renewables, bank renewable credits for future use, or sell them on the open market. The bill gives federal credits for existing renewables and for renewables required under a state RPS. The bill also returns money to the states from the sale of credits for state weatherization programs, low-income energy assistance programs, and for encouraging the installation of additional renewables.
Finally, our bill makes clear that while material removed from the national forests in connection with fuel reduction projects or for other reasons can qualify as biomass, we have been careful to make it clear that the bill does not set up a new program under which timber would be harvested specifically for that purpose.
Our RPS bill will save consumers money, benefit farmers and rural landowners, reduce air pollution, and increase reliability and energy security. My cousin and I believe this RPS bill is a win-win proposition and worthy of the support of our colleagues. We will work together and with our colleagues on both sides of the aisle to push it forward in the House.
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