The Local Solar Expansion Amendment Act of 2022 was introduced on July 14, 2022. This bill will increase the Solar Renewable Portfolio Standard (RPS) target from 10.00% to 15.00% by 2041. It will also adjust the current Alternative Compliance Payment (ACP) schedule. Below is the proposed schedule:
| Current RPS Requirement | Proposed RPS Requirement | Current ACP | Proposed ACP | |
| 2023 | 2.85% | 3.00% | $500 | $500 |
| 2024 | 3.15% | 3.65% | $400 | $480 |
| 2025 | 3.45% | 4.30% | $400 | $460 |
| 2026 | 3.75% | 5.00% | $400 | $440 |
| 2027 | 4.10% | 5.65% | $400 | $420 |
| 2028 | 4.50% | 6.30% | $400 | $400 |
| 2029 | 4.75% | 7.00% | $300 | $380 |
| 2030 | 5.00% | 7.65% | $300 | $360 |
| 2031 | 5.25% | 8.30% | $300 | $340 |
| 2032 | 5.50% | 9.00% | $300 | $320 |
| 2033 | 6.00% | 9.65% | $300 | $300 |
| 2034 | 6.50% | 10.30% | $300 | $300 |
| 2035 | 7.00% | 11.00% | $300 | $300 |
| 2036 | 7.50% | 11.65% | $300 | $300 |
| 2037 | 8.00% | 12.30% | $300 | $300 |
| 2038 | 8.50% | 13.00% | $300 | $300 |
| 2039 | 9.00% | 13.65% | $300 | $300 |
| 2040 | 9.50% | 14.30% | $300 | $300 |
| 2041 | 10.00% | 15.00% | $300 | $300 |
This bill passed two council votes in December and was approved during the mayoral review period. The Congressional review period is the final step and is expected to complete in the next 2 months.
The DC SREC market has experienced oversupplied market conditions, which have resulted in a lack of liquidity and lower SREC prices. Increasing the RPS will help with this oversupply issue. Additionally, a more gradual decrease to the ACP schedule will support higher SREC prices. The passage of this bill would put DC in the position of having the most highly valued SREC compliance market in the United States.
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