In May 2010, Oklahoma established a renewable energy goal for electric utilities operating in the state. The goal calls for 15% of the total installed generation capacity in Oklahoma to be derived from renewable sources by 2015. There are no interim targets, and the goal does not extend past 2015. Eligible renewable energy resources include wind, solar, hydropower, hydrogen, geothermal, biomass, and other renewable energy resources approved by the Oklahoma Corporation Commission (OCC). Energy efficiency may be used to meet up to 25% of the overall 15% renewable energy goal.
Unlike the renewables portfolio standards adopted by other states, which require utilities to retire renewable energy credits (RECs) to demonstrate compliance, Oklahoma's law does not require utilities to purchase and retire RECs. Instead, each utility in Oklahoma that owns or operates electricity generation facilities must file a report with the OCC each year by March 1. The report must document the total installed capacity of all generation facilities, the number of kilowatt-hours (kWh) generated by each facility and the energy source for each facility. The law also requires utilities to file a report with the OCC each year by March 1 detailing and quantifying the energy efficiency programs they have administered.