A number of U.S. states require electricity providers to derive a minimum percentage of their power from renewable sources by a certain date. Such a requirement is often referred to a renewable portfolio standard, or RPS. Currently, 24 states, plus the District of Columbia have formalized RPSs in place, while five other states have legislated more informal goals aimed at promoting the adoption of renewable power. The Department of Energy provides a useful RPS summary map.
Early Friday evening, the House narrowly passed the American Clean Energy and Security Act (ACES), a monumental -- and mammoth -- piece of legislation (PDF) that, among other things, aims to mitigate greenhouse gas emissions. Reactions to the bill's passage have been varied. Republicans, by and large, have been critical of the bill's perceived cost and complexity. As to be expected, Democrats have been broadly supportive. Greenpeace has outright deemed it a failure, aruging that the cap-and-trade scheme envisaged doesn't go far enough in restricting emissions over the short term. Other environmental organizations have been notably more positive, with the president of the Natural Resources Defense Council calling the bill's passage a “dramatic breakthrough for America’s future.” Meanwhile, President Obama Administration has welcomed the 219-212 vote in favor of ACES:
In October 2008, President Bush signed into law the The Energy Improvement and Extension Act of 2008. The act extended, through 2016, the corporate and individual Investment Tax Credit (ITC). It also removed the cap that had previously prevented homeowners from taking more than a $2,000 credit when purchasing a solar PV system.
If you've been following the renewable energy tax credit's epic journey through this nation's two legislative chambers, you'll know the industry's hopes for an extension were dashed for the sixth time on Monday. If you're just tuning in--bored of the financial mayhem elsewhere, perhaps?--take a look at Adam's great recap from earlier this week.