Maryland has long been a leader on renewable energy policy and enacted a renewable portfolio standard (RPS) in 2004. Maryland's RPS requires electricity suppliers to procure 20% of their power from renewable sources by 2022. Maryland now has 702 megawatts of in-state renewable energy generation and since 2008, almost $1.4 billion in asset finance, private quity and venture capital has been invested in Maryland's renewable energy sector.
In 2016, the Maryland General Assembly proposed increasing the state's RPS to 25% and moving the compliance deadline forward to 2020. This report makes the case that satisfying the increase in the RPS with in-state renewable development would attract $8.22 billion in investment and economic activity.