By Editors of Power Engineering
Maryland has increased its renewable generation portfolio target to 25 percent of all generation by 2020, which replaces an earlier target of 20 percent by 2022.
The state’s target now stands at 16 percent this year, according to a report by the Energy Information Administration.
Maryland’s new standard includes solar, wind, biomass, geothermal, fuel cells, ocean, small hydro and some qualified waste technologies, which will ramp up to 2.5 percent of sales by 2020. The set-aside for offshore wind is expected to be set by the Maryland Public Service Commission this year, and will be no more than 2.5 percent of sales.
Hydroelectric generation is now set at 2.5 percent of sales as well, though that source will expire in 2018.
Maryland’s renewable portfolio target hit 10.5 percent of electricity sales in 2015, or eight million renewable energy credits purchased across mid-Atlantic, Southern and Midwestern states.
Solar made up of a relatively large share of the cost of compliance, with only four percent of the renewable energy credits used for solar, though solar was 31 percent of the cost of compliance. However, solar costs have declined from $345 per renewable energy credit in 2008 to just above $100 in 2015.
At the same time, non-solar renewable energy credit prices have increased from belof $1 in 2008 to nearly $14 in 2015.