The Minnesota Senate has passed their state's Renewable Energy Standard requiring Minnesota utilities to generate a minimum 25 percent of their electricity renewably by 2025. Xcel Energy is to jump the gun and aim for 30 percent renewable generation by 2020. There is a back door clause however which allows the Public Utilities Commission to modify the standard in relation to a particular utility if it determines that electricity prices will significantly increase or reliability would decrease if the implementation proceeded.

A Renewable Energy Credits Trading System will also be created within twelve months so that companies who are exceeding their renewable targets can trade additional credits to others that are under performing.

Analysis: We have a similar trading scheme in Australia called, remarkably enough, Renewable Energy Credits or just RECs. RECs can be created by residential solar hot water systems, photovoltaic installations, hydro, wind, or other forms of renewable energy generation. It's a great way to encourage excess production of renewable energy because you can always trade away what you don't need. The way we generate our electricity is going to become increasingly important with the movement towards PHEVs and EVs.

Related:
[Source: Clean Edge]


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