There is one summary for this bill. Bill summaries are authored by CRS.

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Introduced in Senate (08/02/2001)

Renewable Energy and Energy Efficiency Investment Act of 2001 - Directs the Secretary of Energy to establish a National Electric System Benefits Board, which in turn shall establish the" National Electric System Benefits Fund" to provide matching funds to States for the support of State system benefit programs relating to: (1) renewable energy sources; (2) assisting low-income households in meeting home energy needs; (3) energy conservation and efficiency; or (4) research and development.

Requires each retail electric supplier to submit annually to the Secretary renewable energy credits equal to the required annual percentage of the supplier's total kilowatt-hours sold to consumers during the preceding calendar year. Prescribes the amount of electricity which each supplier shall generate each year by renewable energy sources according to a mandatory renewable energy timetable. Prescribes guidelines for a program to issue, monitor the sale or exchange of, and track renewable energy credits.

Mandates that an electric company shall allow a retail electric customer to interconnect and employ a net metering system.

Instructs the Secretary to establish and promulgate a disclosure system that enables retail consumers to compare retail electric service offerings knowledgeably. Grants the Secretary full access to the records of all generation facilities, electricity wholesalers, and retail companies.