Renewable Electricity Standard Act

[AI summary unavailable — showing source text] Renewable Electricity Standard Act Amends the Public Utility Regulatory Policies Act of 1978 to require a retail electric supplier to submit to the Department of Energy (DOE) for 2015 and thereafter one or more of the following: (1) specified federal renewable energy credits, (2) certification of the renewable energy generated and electricity savings, and (3) specified alternative compliance payments. Prescribes, for 2015 through 2039, a schedule of graduated annual percentages of a retail electric supplier's base amount that shall be generated from renewable energy resources (increasing from 7.5% in 2015 to 30% in 2030). Directs DOE to establish a program to: (1) verify and issue federal renewable energy credits to generators of renewable energy; (2) track the sale, exchange, and retirement of the credits; and (3) enforce the federal renewable energy credits program. Directs DOE to issue a generator of electric energy one federal renewable energy credit for each kilowatt hour of electric energy generated by the use of a renewable energy resource at an eligible facility. Prescribes rules for federal renewable energy credit trading and for borrowing and repayment of federal renewabl…