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Commerce RI Renewable Energy Fund

Date Last Updated5/14/2013
Policy TypePublic Benefits Fund
State/FederalRI
Policy Administrator/Contact OfficeRhode Island Commerce Corporation (Commerce RI)
Policy Initiation Date8/7/1996
Policy SummaryThe Commerce RI Renewable Energy Fund (REF) is funded by a $0.0003/kWh surcharge and is dedicated to increasing the role of renewable energy throughout the state. The REF provides grants and loans for renewable energy projects with the potential to make electricity in a cleaner, more sustainable manner, while stimulating job growth in the green technology and energy sectors of Rhode Island's economy. Using funds from the 'system benefit charge' on electric bills and Alternative Compliance Payments, Commerce RI will fund renewable energy projects in small-scale solar, feasibility studies and commercial development.

In each calendar year, a minimum percentage of the REF's income will be available to eligible projects in each Program area. Commerce RI, at its discretion, may choose to contribute more money to a particular program based on demand for a particular program, available funds, or other factors. The minimum allocated percentages shall be:
  • Small scale solar: twenty percent (20%).
  • Commercial Renewable Energy Development: twenty percent (20%).
  • Early Stage Commercialization: twenty percent (20%).
  • Predevelopment Feasibility Studies: twenty percent (20%).
If the minimum percentage is not awarded during the calendar year, funds will roll over into the same program for the following calendar year.

Funding for CHP projects provided by these resources would be found under related dCHPP incentive types (e.g., loan, grant, or rebate).
CHP Eligibility RequirementsDoes Not Specify
Eligible Project Size (MW)Does Not Specify
Minimum Efficiency Required/
Other Performance Requirements
Does Not Specify
Resource Website(s) http://www.commerceri.com/finance/REF.php exit EPA

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