LANSING – Today Senator Olshove (D-Warren) supported bipartisan, comprehensive renewable energy legislation that will stimulate economic growth and the creation of “green jobs” while saving ratepayers $4.3 billion in future energy costs. This legislation ensures that Michigan’s energy needs are met by clean and renewable energy resources while protecting consumers from large rate increases.

“The overall package passed today offers a strong resolution to our state’s long-term energy problem,” said Olshove who serves as Minority Vice Chair of the Senate Energy Policy and Public Utilities Committee. “The RPS established will meet Michigan’s energy, environmental, and economic needs and as a sponsor of this legislation, I’m thrilled to see the growth this energy package will bring to our state.”

This package will:

• Create a 10% Renewable Portfolio Standard that will encourage investment in Michigan’s renewable energy sector and create new manufacturing jobs in the wind and solar industries
• Save ratepayers $4.3 billion in avoided costs over the next twenty years by not paying for unnecessary new baseload plants
• Diversify Michigan’s economy as well as its electricity generation portfolio, insulating the state from future fuel crises
• Create energy efficiency standards to reduce energy used, ultimately keeping costs down
• Include a “net metering” law that will allow consumers to sell renewable energy that they produce back to utility companies
• Provide an income tax credit for ratepayers to offset a portion of their investments in renewable energy for Michigan
• Ensure that money will not be spent on renewable energy technology unless it is less expensive than new coal plants
• Ensure that money will not be spent on energy efficiency measures unless it is shown that such measures will save more money than is being spent.

Michigan has been identified by the United States Department of Energy as one of the top eight states in the nation for potential wind production. The Department also recognizes Michigan as one of four states that will create over 30,000 manufacturing jobs in the wind sector alone. Renewable energy manufacturers are investing billions of dollars in expanding their capacities every day, and Michigan already has superior tool and die, metal fabrication, and metal working capabilities and a highly-developed manufacturing supplier network. This new legislation opens the door for the state to become a major player in the fast-growing renewable energy sector.

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