Twenty nine states in the U.S. have established Renewable Portfolio Standards (RPS) that mandate electric utilities serving retail customers in their state to provide a percentage of their electricity sales from renewable energy. Generators such as solar, wind, low-impact hydro, landfill gas, biomass, geothermal and CHP qualify as renewable energy sources with slight variation state to state.
Some utilities choose to build these projects themselves, while others will purchase from other providers with renewable generation. The buying and selling of Renewable Energy Certificates (RECs) allows a utility to provide verification that the mandate is met. Each qualifying megawatt of electricity (1,000kWh= 1 MWh) will translate to 1 REC which is managed and monetized by Titan Energy through NEPOOL.
Titan Energy will:
