TRAVERSE CITY, MI -- In Wednesday's Fact Finder, 7&4 News breaks down Proposal 3.
The proposal would amend the state constitution to establish a standard for renewable energy.
This proposal would:
· Require electric utilities to provide at least 25% of their annual retail sales of electricity from renewable energy sources, which are wind, solar, biomass, and hydropower, by 2025.
· Limit to not more than 1% per year electric utility rate increases charged to consumers only to achieve compliance with the renewable energy standard.
· Allow annual extensions of the deadline to meet the 25% standard in order to prevent rate increases over the 1% limit.
· Require the legislature to enact additional laws to encourage the use of Michigan made equipment and employment of Michigan residents.
The proposal is sponsored by Michigan Energy Michigan Jobs.
The Clean Affordable Renewable Energy for Michigan Coalition has been campaigning against it.
Watch our Fact Finder report for a full breakdown of this issue.
