Rep. Henry Waxman (D-CA), chairman of the House Energy and Commerce Committee, announced various details of an agreement by committee Democrats on provisions of the “American Clean Energy and Security Act of 2009.” This is the major energy/cap and trade bill that the House of Representatives plans to consider this summer.

According to Waxman, the agreement provides for a combined 20% renewable energy and energy efficiency standard by 2020. Utilities would be required to obtain 15% of their electricity from renewable energy source and demonstrate annual electricity savings of 5% from energy efficiency measures by 2020.

If the governor of a state determines that utilities in the state can’t meet the 15% renewable requirement, the governor may reduce the renewable requirement to 12% and increase the efficiency requirement by 8%.

Under the agreement, the automobile industries will be provided incentives to make electric and advance technology vehicles. Energy-intensive industries that compete in global markets will be provided incentives to improve their energy efficiency, as well as assistance to address the costs of transitioning to clean energy economy. Negotiations continue among Democrats.

At this time, committee Republicans plan to offer dozens of amendments during committee consideration of the bill next week. They also plan to introduce their own energy bill which will place more emphasis on traditional domestic energy production. Ag groups are waiting to see the final details of the bill.