Today, the Maryland Senate voted 37-9 in favor of Senate Bill 791. We have been following this piece of legislation closely and have provided estimates and analysis around its impact on the Maryland Solar REC market.
Overall, the legislation pulls forward the Solar RPS requirements, reaching the existing 2022 Solar % requirements in 2020. The chart below demonstrates the existing requirements vs. the proposed requirements under the new legislation.
The next step for the bill is to move on to the Governor’s office to be signed into law. Maryland stakeholders expect the legislation to be well received by the Governor who will likely sign the bill in May.
We’ll continue to provide updates as the bill is finalized and signed into law. Before then we should point out this bill was successfully promoted in part due to the efforts of the Maryland-DC-Virginia Solar Energy Industries Association (MDV-SEIA) and strong grassroots support from Maryland stakeholders at large.