Modifies the definition of renewable energy resources
Impact
If passed, this bill would significantly reshape the landscape of renewable energy regulations in Missouri. It would provide a clearer framework for energy producers and stakeholders in the renewable energy sector. By defining specific terms and setting new guidelines for what is considered renewable energy, the state hopes to streamline the certification and trading of renewable energy credits. This could potentially lead to an uptick in renewable energy projects, encouraging investments in green technologies and contributing to the state’s long-term economic growth.
Summary
House Bill 1865 seeks to repeal section 393.1025 of the Revised Statutes of Missouri and replace it with a new provision related to renewable energy resources. This modification aims to update the definitions and regulations surrounding renewable energy, particularly focusing on the criteria that define what constitutes renewable energy resources. It specifies terms such as 'renewable energy credit' (REC) and outlines various sources of renewable energy like wind, solar, and bioenergy, among others. By enacting this legislation, Missouri aims to enhance its legislative framework on renewable energy, thereby encouraging cleaner and more sustainable energy practices within the state.
Contention
However, it is anticipated that points of contention may arise from different stakeholder perspectives, particularly regarding the inclusion and exclusion of certain energy sources under the definition of renewable energy. Debates may arise over what technologies are deemed acceptable, especially concerning the viability and environmental implications of various renewable technologies. Stakeholders from traditional energy sectors might express concerns over this bill impacting competitive balance, as the shift towards stricter definitions and regulations could marginalize certain existing energy producers.