Renewable Energy Investment Act of 2003

Summary

Renewable Energy Investment Act of 2003 - Requires each retail electric supplier to submit annually to the Secretary of Energy renewable energy credits according to a prescribed annual percentage of the supplier's total amount of kilowatt-hours of nonhydropower electricity sold to consumers during the previous calendar year. Requires each retail electric supplier during a calendar year to generate a specified percentage of nonhydropower electricty by renewable energy sources, escalating from five percent during calendar 2006 through 2009 by five percent increments during subsequent five-year periods up to twenty percent in calendar 2020 and beyond. Directs the Secretary to establish a program to issue, monitor the sale or exchange of, and track renewable energy credits. Authorizes any entity that is issued or has acquired a renewable energy credit to sell or exchange it. Requires the Secretary to sell credits at prices determined by a certain formula. Subjects to a civil penalty a retail electric supplier who does not submit the requisite renewable energy credits. Authorizes the Secretary to distribute receipts from sales to the States in order to promote State renewable energy production and use.

This text is taken from the official record. PoliticalRepo does not editorialize.

Timeline

No timeline events have been ingested for this record yet.

Votes

No vote records are attached yet.

Versions

No version snapshots stored. Document URLs remain at the source.

Documents

3 official files

• Introduced in Senate (text)

  Introduced in Senate · EN · 29 April 2003

  ViewDownloadOpen at official source

• Introduced in Senate (PDF)

  Introduced in Senate · EN · 29 April 2003

  ViewDownloadOpen at official source

• Introduced in Senate

  summary · EN · 29 April 2003

  Open at official source

Sponsors

No sponsors or actors listed by the source.

Related records

No cross-record relationships stored yet.