Sec. 7. Funding and regulatory impact study. The Energy Resources Council, in consultation with the Public Utilities Commission, shall assess the current business and regulatory environment as it affects the development of renewable energy resources and make recommendations for policy and regulatory changes that encourage new renewable resources business development in Maine, including new generation, fuels and businesses related to renewable resources of energy. Among other issues, the council shall investigate the viability of initiating a multimillion-dollar green energy bond or other funding mechanism for the long-term economic development of new renewable resources and related projects in Maine. In conducting the study, the council shall investigate the number and type of potential jobs created, the economic impact and benefit to Maine and the amount of pollution avoided by the operation of new renewable resources in Maine. The council shall report back to the Joint Standing Committee on Utilities and Energy and the Joint Standing Committee on Natural Resources with its findings by January 15, 2004.

SUMMARY

This bill:

1. Establishes minimum energy efficiency standards for certain products, such as ceiling fans, illuminated exit signs, traffic signal lights and digital cable television boxes. Beginning January 1, 2005, the sale of a product that does not meet the energy efficiency standards is prohibited. Beginning January 1, 2006, the installation of a product that does not meet the energy efficiency standards is prohibited;