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SOLAR |
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WIND |
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GEOTHERMAL |
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BIOMASS |
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SUMMARY OF THE NEVADA RENEWABLE ENERGY PORTFOLIO STANDARD
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The Nevada Renewable Portfolio Standard program is one of the most aggressive renewable
portfolio standards in the nation, requiring that the state’s electric utilities
derive at least 50% of the electricity they sell to retail customers from renewable
energy resources by 2030.
The utilities are able to meet this standard through renewable energy procurement
as well as savings from energy efficiency measures such as refrigerator recycling
programs.
Currently, the Portfolio Standard requires that 20% of the electricity a utility
provides come from renewable energy; the Portfolio Standard will then increase in
a stair-step approach as described below.:
• 22% by 2020
• 24% by 2021
• 29% by 2022
• 34% by 2024
• 42% by 2027
• 50% by 2030
Under the Nevada Renewable Portfolio Standard program, the following types of energy
are certifiable as renewable:
• Biomass including methane
• Geothermal
• Solar
• Wind
• Certain hydropower
• Waste tires (reverse polymerization)
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NVTREC - NEVADA TRACKS RENEWABLE ENERGY CREDITS
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NVTREC is a system designed to assist in carrying out the goals of the Portfolio
Standard to encourage the growth of renewable energy in Nevada.
It allows renewable energy market participants to register and manage their portfolio
energy credits (PCs) which represent 1 kilowatt-hour of renewable energy generated
or 1 kilowatt-hour of energy saved through energy efficiency programs. Although
PCs can be traded and held by any person, most PCs are ultimately used by the state’s
electric utilities to meet compliance with the Portfolio Standard requirement.
So for example, if a utility’s Portfolio Standard requirement is 1,000 PCs, it is
the utility’s responsibility to either procure those PCs from another entity or
to generate its own PCs. In reality, a utility’s requirement is usually much greater
than 1,000 PCs; resulting in a large number of PC transactions and processes that
need to occur for the utility to meet its requirement. It is these steps and transactions
that NVTREC will seamlessly document and verify.
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REGISTRATION AND PARTICIPATION |
Please apply for registration if you own a renewable energy system and wish to do any of the following functions:
• Register your renewable energy system with the Public Utilities
Commission of Nevada (PUCN)
• Certify your renewable energy output as PCs
• Track the balance and activity of your account of PCs
• Transfer your PCs to other system users
• Retire your PCs
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