Passing a renewable portfolio standard

Michigan needs a renewable portfolio standard that at the very least requires ten percent of its power to come from renewable energy resources by 2015 and does not allow any of this mandate to be offset by efficiency gains made by utilities through those years. A renewable portfolio standard should save Michigan money over the next many years since more peak power will come from wind power rather than natural gas plants, which have been subject to volatile natural gas prices over the past couple of years and are more expensive than wind power. A renewable portfolio standard is also a market-oriented approach that encourages utilities to make prudent, long-term investments rather than short-sighted decisions. Under the current regulated market where utilities are guaranteed rates of return no matter how much electricity costs, there is no incentive for utilities to consider buying power from renewable energy rather than traditional fossil fuel-based sources as utilities will receive its profits regardless. A renewable portfolio standard is a market-oriented approach that would require utilities to consider alternative forms of energy that are cheaper and promise to be cheaper in the future. It will save Michigan money and help encourage an alternative energy economy to grow in Michigan.