Abundant Affordable Clean Energy - Procurement and Development (AACE Act)

SB 316, the Abundant Affordable Clean Energy (AACE) Act, requires Maryland's electric companies to submit plans for energy storage devices by specific deadlines and then build or procure them as approved. It establishes new programs to boost solar, wind, and hydro energy, including the Utility-Scale SREC-II Program and Small Solar Facilities Incentive Program, which create renewable energy credits. The bill also changes where certain fees are paid (to an escrow account instead of the Strategic Energy Investment Fund) and updates transmission planning for offshore wind projects. Additionally, it creates zero-emission credits for nuclear facilities and adjusts tax revenue distribution for data centers.