Connecticut Energy Dealers Insurance: Renewable Energy Faces Setbacks

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Connecticut Energy Dealers Insurance: Renewable Energy Faces SetbacksConnecticut Energy Dealers Insurance Renewable Energy Faces Setbacks

Renewable energy dealing is facing mounting hurdles in Ohio after a bill passed both the state House and Senate revising energy standards established in 2008. Existing standards required utility providers to cut consumer power consumption by 22% and use alternative energy for 25% of their power load by 2025, setting guideline increases every few years. The new bill will place a freeze on the timeline requirements previously established to increase renewable energy to 5.5 percent by 2017, and simultaneously lower the required percentage to 3.5 instead. Proponents of the bill claim that the regulations would be too costly for energy producers, yet many of Ohio’s energy producers actually opposed the bill as did a variety of large manufactures and consumer organizations.

Opponents however, are claiming that the bill will do more harm than good for Ohio’s economy. Representative Robert Hagan energetically spoke out against the changes noting that restricting the rapidly growing sustainable energy industry will place the state at a disadvantage and cause increased energy costs for consumers and businesses. While many alternative solutions were proposed, all were blocked from consideration and the bill underwent minimal negotiation before passing. Those opposing the bill were able to successfully remove one of the most controversial clauses in the bill that would have allowed utilities under a future renewable energy contract to be released from their obligations should any change in renewable energy resource requirements arise, which could have potentially caused devastating financial setbacks for the alternative energy industry.

Defying popular opinion and appeal, Ohio is now the first state to pass legislation curbing sustainability efforts and many critics wonder if other states will soon attempt to follow. Luckily, Connecticut renewable energy providers are constantly gaining legislative and financial support from state and federal organizations, like the Department of Energy and Environmental Protection (DEEP) and Clean Energy Finance and Investment Authority (CEFIA), looking to advance responsible and sustainable fuel production efforts. The wide spread enthusiasm and support for sustainable energy sources has catapulted Connecticut’s renewable energy industry into increased expansion, especially of small scale projects and service providers.

As energy dealers continue to explore their options, the need for a reliable, tailor-made insurance and risk management programs remains critical. At Sinclair Risk & Financial Management, we offer solutions to the challenges Connecticut Energy Dealers face from legal complications to operational mishaps. We specializes in providing the most comprehensive Renewable Energy InsuranceFuel Energy Insurance, & Liquid Petroleum Gas (LPG) Insurance coverage available to protect your infrastructure, equipment, employees and all company assets. Contact us today at (877) 602-2305 for more information about all our Connecticut Energy Dealers Insurance programs.