Gov. Jennifer M. Granholm, D-Mich., has signed into law a bipartisan energy package that includes a renewable portfolio standard (RPS) for the state.
The three-bill package signed by Granholm has an RPS that mandates 10% of the state's energy come from renewable sources by 2015, regulatory reform that protects ratepayers and allows utility companies to build new electricity generation in Michigan, and a requirement that utilities meet an additional 5.5% of the state's annual electricity demands through energy efficiency by 2015.
‘This comprehensive package will create tens of thousands of new energy jobs by making Michigan even more attractive to job-creating companies that are looking for a place to expand as they meet the growing demand for energy from renewable sources like wind and solar power,’ says Granholm. ‘It also helps reduce costs for our citizens by requiring new energy efficiency programs and reducing the need for additional coal-burning power plants.’
The package also includes an income tax credit to offset a portion of ratepayers' investments in renewable energy for Michigan and a net metering law that allows customers to sell renewable electricity they produce at their homes or businesses to their utility companies.
In addition to ample wind resources, green energy manufacturing is considered to be a good fit for Michigan because the state has superior tool and die, metal fabrication and metal working capabilities; manufacturing expertise; and facilities that can be retrofitted to produce wind turbines.
SOURCE: Office of Gov. Jennifer M. Granholm