Renewable Power Supply Outstrips Demand
For the first time in the short history of the state's Renewable Energy Portfolio Standard, the supply of electricity from renewable energy generators has exceeded demand, according to the state Department of Energy and Environmental Affairs.
Under the state renewable energy standard, retail electricity suppliers are legally required to purchase renewable energy for their customers. According to the state Department of Energy Resources, the supply of renewable power available saw a steep increase between 2006, when 940 megawatts were available and 2007, when 1.6 million megawatt hours were in the supply.
The renewable energy standard was designed to spur the development of renewable power in the state. This year, electricity suppliers are required to generate 3.5 percent of their power from renewable sources. In 2009, they'll be required to produce 4 percent from renewable sources. Starting in 2010, the obligation will increase by 1 percent each year.
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