On December 18th, the District of Columbia City Council unanimously approved the CleanEnergy Omnibus Amendment Act of 2018, which among a number of other environmental initiatives, mandates the District be powered by 100% renewable energy resources by 2032. While a number of other states, including California and New York, have approved similar 100% clean energy mandates, the Act requires the District to meet its 100% target nearly a decade earlier than any other state. This puts the District at the forefront of a growing wave of local and state initiatives, nationwide, working to implement robust and resolute clean energy programs.
In addition to doubling the RPS mandate, the Act pulls forward the solar RPS schedule by two years and extends the solar requirement to 10% of electricity sales by 2041. Notably, the Act extends the useful lifetime of an SREC from three to five years, providing more price stability within the SREC market and stimulating investor confidence. The Act also includes provisions to provide further transparency with respect to load exemptions, requiring EDCs and LSEs to publish their electricity sales exempt from compliance obligations in their annual RPS compliance reports.
Mayor Muriel Bowser has 10 business days to sign the Act, veto it, or let it pass without her signature. While the Mayor is expected to sign the measure, a unanimous vote from the Council would override any veto from the Mayor.
Once the Act goes into law, SRECTrade will release a full analysis outlining the effects this change will have on the District’s SREC market.