General Assembly establishes renewable energy growth program

THE R.I. GENERAL Assembly on Wednesday passed a bill establishing the Renewable Energy Growth Program to finance solar and other renewable energy projects in the state over five years. / PBN FILE PHOTO/BRIAN MCDONALD
THE R.I. GENERAL Assembly on Wednesday passed a bill establishing the Renewable Energy Growth Program to finance solar and other renewable energy projects in the state over five years. / PBN FILE PHOTO/BRIAN MCDONALD

PROVIDENCE – The General Assembly on Wednesday passed the Renewable Energy Growth Program bill, establishing a 160-megawatt, five-year program to finance solar and other distributed generation projects and earning praise from the New England Clean Energy Council.

Under House bill H7727 and Senate bill S2690, the program will fund projects through a competitive performance-based incentive system designed to meet specific megawatt targets, which bill sponsor Rep. Deborah Ruggiero, D-Jamestown, said would quadruple the number of renewable energy projects in the state and open up a significant homeowner solar market in Rhode Island.

“This extension of Rhode Island’s distributed generation program is a significant success for the state and its clean energy industry,” said NECEC President Peter Rothstein in a statement. “The clean energy industry is one of the fastest growing, innovative sectors driving economic growth in Rhode Island and New England, and this legislation will assure that Rhode Island reaps the economic, energy and environmental benefits that come with that growth.”

In addition to opening Rhode Island to new renewable energy innovations and building the renewable energy jobs market, the new program will also benefit ratepayers by encouraging the continued decline in renewable energy prices, the NECEC said, and will help the environment by reducing carbon and other air emissions.

- Advertisement -

A report by the R.I. Office of Energy Resources and the R.I. Commerce Corporation in May highlighted the potential positive impact that distributed renewable energy generation can make on Rhode Island’s economy. The study, conducted by The Brattle Group, found that projects funded under the Renewable Energy Growth Program could result in nearly 250 net jobs in Rhode Island and a net increase in average annual economic output of more than $30 million.

“This bill benefits ratepayers, the environment and Rhode Island’s economy,” said Sen. Susan V. Sosnowski, D-New Shoreham. “It’s an exciting venture for both the state and its residents, because the expansion essentially encourages more renewable energy projects in the residential market. More importantly, more renewable energy projects mean more green jobs we can create to support those struggling with unemployment.”

No posts to display