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The American Renewable Energy Act of 2024 establishes a federal renewable electricity standard requiring retail electricity suppliers (utilities selling at least 1 million megawatt hours annually) to submit renewable electricity credits representing a percentage of their sales each year from 2025 through 2034. The bill sets escalating compliance targets, with at least 15% of required credits (rising to 20% by 2029) coming from distributed generation and renewable projects in impacted communities, including low-income areas and communities disproportionately affected by pollution. The Federal Energy Regulatory Commission would issue credits for renewable electricity from wind, solar, geothermal, biogas, qualified hydropower, and marine energy sources, and would establish regulations and enforcement mechanisms by January 2026.
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