Renewable energy bill has potential

It's not just a consolation prize:

In a rare show of bipartisanship, a group of Democratic and Republican senators introduced legislation on Tuesday that would require utilities nationwide to generate at least 15 percent of their electricity from renewable sources like wind, solar and biomass by 2021.

“I think that the votes are present in the Senate to pass a renewable electricity standard,” Mr. Bingaman said in a statement. “I think that they are present in the House. I think that we need to get on with figuring out what we can pass and move forward.”

Back in March when I tagged along with our pals from the Sierra Club for a "drop in" at Kay Hagan's office, I spoke at length (I do that occasionally) about how individual states' REPS had boosted the construction of renewable energy generating facilities across the country, and how a national standard was critical if we want that growth to continue.

It's not a theoretical formula that might work, it's already happening even as you read this. But without solidifying these minimum standards nationally, obstacles to sustained growth will emerge, maybe sooner than later.

First and foremost, state legislatures are fickle bodies, and individual (state-specific) portfolios are prone to being watered-down or even overturned. The anachronistic anarchists over at Civitas have been whining about doing this since SB3 passed, and there is a good chance their wishes may come true in the near future. Bottom line, we can't assume these varied and diverse efforts will remain healthy and productive.

But even if they can and do survive, there will come a point where renewable energy growth meets and surpasses those states' demands, and the value of renewable energy credits will drop, and its growth along with it. A national portfolio will extend that growth cycle for several years.