Sen. Jeff Bingaman, D-N.M., whose committee is responsible for writing energy legislation, is to soon review a draft bill that could require that 20 – 25 percent of the nation's electricity coming from renewable energy sources.

The development, reported by Dow Jones, is being attributed to "aides and people close to the matter". Senate officials and lobbyists close to the matter say the Senate Energy and Natural Resources Committee will review soon a draft legislation to create a standard.

"Analysts say an increased Democrat majority means Congress stands an excellent chance of passing such a renewable mandate, which would give the wind, solar and other alternative industries a major financial boost," it was reported.

"President Barack Obama has already pledged to push for a 25 percent mandate, with a 10 percent standard achieved early in the next decade, and enacting such a standard would help Democrats accelerate their clean energy program they say is essential not only for cutting greenhouse gases and reducing the nation's dependence on oil imports, but also to stimulating an ailing economy.