MADISON, Wisconsin, US, May 16, 2007.
The states of Minnesota, Iowa, South Dakota, North Dakota and Wisconsin, as well as the province of Manitoba, will implement a regional renewable energy tracking system.
The purpose of the Midwest Renewable Tracking System is to help participants meet their renewable energy standards and objectives. M-RETS supports a regional trading market which will keep costs of developing renewable energy down and promotes more renewable energy generation, ultimately helping the region to reduce GHG emissions.
Four jurisdictions in the upper midwest (Wisconsin, Minnesota, Iowa and Manitoba) currently have policies requiring or encouraging the development and use of renewable resources. M-RETS will provide a tool for the jurisdictions to collect data on production from renewables and provide a mechanism for monitoring their goals. It will also promote trading credits with neighbouring jurisdictions in the region to help in meeting policy requirements.
Wisconsin was the latest state to join the initiative, calling it a milestone in meeting the region’s renewable energy goals and promoting more renewable energy development.
“This tracking system creates a market-based trading program for Wisconsin and our neighbouring states,” explains Dan Ebert of the Public Service Commission of Wisconsin. “This innovative project will keep the costs of renewable energy down and will encourage more renewable energy development, helping Wisconsin meet Governor Jim Doyle’s challenge to provide 25% of the state’s energy from renewables by the year 2025.”
The Public Service Commission of Wisconsin signed a contract with APX to implement the system. The M-RETS contract awarded to APX is for four years and the system will become operational this summer. Several other states and provinces are expected to join as the program progresses.
The M-RETS contract and technical recommendations were developed with support from the Great Plains Institute, on behalf of Powering the Plains and the Izaak Walton League of America, as well as the Center for Resource Solutions.
Last month, governor Doyle joined energy and environmental stakeholders in announcing four key initiatives that will make the state a leader in energy independence, including plans to take a leadership role in implementing the M-RETS.
