Rep. Jim McDermott (D-WA) is getting ready to introduce a bill that would extend and modify the Clean Renewable Energy Bond (CREB) program, which provides an incentive for governmental entities and rural electric cooperatives to invest in renewable generation.
McDermott's "Clean Renewable Energy for Public Power Act" would:
- extend the CREB program for five years
- remove the volume cap (currently set at $400 million) for the program, and
- modify the definition of "governmental entity" to ensure that public power systems with an obligation to serve receive a more appropriate percentage of CREB benefits, if a volume cap were put in place.
The bill has not yet been introduced, but McDermott has circulated a "Dear Colleague" letter to House Members asking for co-sponsorship. During this week's APPA Legislative Rally, NEPPA representatives asked members of the New England delegation to support the bill.