Energy: alternative sources; bidding requirements; update. Amends sec. 28 of 2008 PA 295 (MCL 460.1028).

This bill updates Michigan's renewable energy requirements for electric providers, setting specific portfolio goals of 15% by 2029, 50% between 2030 and 2034, and 60% starting in 2035. It allows certain cooperatives and multistate providers to lower their targets if they already generate significant clean energy within the state or have existing nuclear contracts. The legislation also introduces financial incentives for providers entering new renewable energy contracts with non-affiliated entities and permits a small portion of energy savings credits to count toward renewable goals. Additionally, it clarifies rules for purchasing renewable energy credits, limiting such purchases to 5% of the total annual requirement and banning their use after 2035.