Bill > H2861

This bill aims to encourage the use of clean energy resources by requiring electricity distribution companies to jointly solicit and enter into long-term contracts with renewable energy developers for the financing of renewable energy generation, with these contracts being subject to review and approval by the Department of Public Utilities (DPU) and consultation with the Department of Energy Resources (DOER). These contracts, which can range from 10 to 25 years, can be for renewable energy certificates (RECs), energy, or a combination of both, and are intended to help meet the state's Renewable Portfolio Standard (RPS) requirements, which are goals for the amount of electricity that must be generated from renewable sources. The bill also allows for individual solicitations if deemed more cost-effective for consumers, establishes a process for determining winning bids, and outlines how costs and benefits will be allocated to customers through a Retail Diversity Benefits Allocator (DBA). Additionally, it mandates a study by the Massachusetts Clean Energy Center (MassCEC) on advancing offshore wind development opportunities.