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North Carolina legislature passed Senate Bill 3 (SB-3) in 2007 which established a Renewable Energy Portfolio Standard (REPS) for our state. SB-3 applies to all electric utilities, with the first requirements to be met by 2010. The goal of the legislation is to expand the development of renewable energy and to promote conservation and energy efficiency. By 2018, up to 10 percent of Jones-Onslow’s kilowatt-hour sales must be from a combination of purchasing renewable energy generation and from offsetting potential energy sales through conservation measures. In May 2009, all accounts began seeing a charge on their monthly electric bills titled NC Renewable Energy Mandate. This charge will pay for costs associated with meeting the state’s REPS. The maximum annual cap allowed under the REPS mandate is $10 for residential consumers; $50 for commercial consumers; and $500 for industrial consumers through 2011. Starting in 2012, the cap increases to $12 for residential consumers; $150 for commercial consumers; and $1000 for industrial consumers. Then in 2015, the maximum annual cap under the REPS mandate increases to $34 for residential consumers; $150 for commercial consumers; and $1000 for industrial consumers.
Cooperatives from throughout North Carolina joined forces to form GreenCo Solutions, a not-for-profit company. The new company will assist the cooperatives in moving forward in the most efficient manner possible while addressing and meeting the state mandates.