Rep. Henry A. Waxman, Rep. Edward J. Markey, Rep. John D. Dingell, Rep. Rick Boucher, Rep. Bart Gordon, and Rep. Mike Doyle released the details of an agreement on a Combined Efficiency and Renewable Electricity Standard that will reduce global warming pollution, create clean energy jobs, and save consumers money.  

The agreement provides for a combined 20% renewable energy and energy efficiency standard by 2020.  By 2020, utilities would be required to obtain 15% of their electricity from renewable energy sources and demonstrate annual electricity savings of 5% from energy efficiency measures.  If the governor of a state determines that utilities in the state cannot meet the 15% renewable requirement, the governor may reduce the renewable requirement to 12% and increase the efficiency requirement to 8%. 

"This combined renewable energy and energy efficiency standard will drive the deployment of clean energy from solar, wind, geothermal, and biomass resources and promote cost-effective investments in energy efficiency," said Rep. Waxman, Chairman of the Energy and Commerce Committee.  "This will spur jobs, investment, and growth in the renewable energy sector and overall economic activity.  It achieves all these goals while ensuring substantial flexibility in how the renewable energy and efficiency objectives are met."

"This clean energy standard will increase the power we use from the sun, wind, and earth, all without increasing electricity prices," said Rep. Edward J. Markey, Chairman of the Subcommittee on Energy and Environment, who introduced the original standard this Congress. According to a recent Department of Energy analysis of a similar provision, the 20% standard will have no impact on the price of electricity through 2020 and will save consumers up to $2 billion through 2030. "This updated standard proves that every region of the country can meet an aggressive clean energy standard, save money, and grow the job-creating energy industries of the future."

"I appreciate the work of Chairman Waxman, Chairman Markey, and a number of our Democratic colleagues in modifying the Renewable Electricity Standard (RES)," said Rep. Boucher.  "The revisions which are being made to the RES appropriately recognize regional differences by making necessary improvements to expand the list of qualifying fuels and to lower the alternative compliance payment.  With these vital changes, I believe that we have created a balanced and responsible policy to advance deployment of renewable electricity, and I am pleased with the product we are able to put forward on this issue."

"As we all know, a one-sizes-fits-all approach on energy is not reasonable for our country," said Rep. Gordon.  "Regional difference present complicated challenges, especially in the area of renewable energy.   I appreciate Chairman Waxman and Chairman Markey working with us to create a Renewable Electricity Standard that is not regionally punitive and includes the flexibility to accommodate regional differences.  The RES compromise includes targets that are realistic and recognizes the importance of nuclear power and the use of carbon capture and sequestration as we move toward carbon emissions reductions."

"The renewable energy and energy efficiency standard we've agreed upon establishes an important national goal while recognizing the need for flexibility in meeting that standard in different regions of the country with different types and levels of renewable resources," said Rep. Doyle.

"I am pleased that we were able to get to a renewable energy and energy efficiency standard of 20% by 2020," said Rep. Dingell, Chairman Emeritus of the Energy and Commerce Committee.  "This moves the ball forward significantly in terms of renewable energy, but does so in a framework within which all states can operate."