Izzo: National Renewable Energy Standard Needed for Investment

Ralph Izzo, president, chair, and chief executive officer, Public Service Enterprise Group (PSEG), called for a national renewable portfolio standard (RPS) before the Feb. 10 Senate Committee on Energy and Natural Resources in Washington, D.C.

A RPS would set a minimum requirement for the percentage of electric power that comes from renewable generation.

"We urgently need decisive federal action -- not a patchwork of state and regional fixes but a strong, progressive national energy policy. A national renewable energy portfolio standard is an essential component of such an energy policy because it creates demand for technology that will transform the way we generate electricity," said Izzo. He added that a national RPS, "will send clear market signals to companies like PSEG to increase their investment in renewable energy."