Last Update: March 22 @ 10:48 AM
environment
EDC unveils plan for green R.I. economy
BLOOMBERG NEWS FILE PHOTO / GEORGE FREY
THE EDC HAS RELEASED a plan for boosting the green economy in Rhode Island. Above, workers in Utah install solar panels.


WARWICK – A state working group is calling for pumping millions into developing a green economy, imposing stricter building codes for energy efficiency, aiming to make Quonset a hub for the wind farm industry and developing a center for excellence in green manufacturing.

The R.I. Economic Development Corporation released the 20-page “Roadmap for Advancing the Green Economy in Rhode Island” to coincide with a conference on the green economy at the Crowne Plaza Hotel in Warwick on Tuesday. Gov. Donald L. Carcieri, Senate President M. Teresa Paiva Weed and EDC Executive Director Keith Stokes are among those expected to attend.

The report identified four “acceleration initiatives” to foster the development of the green economy: making the manufacturing industry energy efficient; constructing more energy efficient homes; cultivating the innovation of green technologies; and creating a hub for the wind farm industry.

But first, the report says, the state will need to overcome stumbling blocks, including limited capital for businesses looking to capitalize on the green economy and a work force poorly trained to lead the Ocean State into the green world.

To overcome the financing problem, the report recommends increasing the R.I. Industrial-Recreation Building Authority’s loan guarantee program to $80 million from $20 million; adding $5 million to the EDC’s Small Business Loan Fund to increase its funding to $18 million; doubling the R.I. Renewable Energy Fund to $5 million; and returning the nonprofit Slater Technology Fund’s annual appropriation to $3 million from the current $2 million.

The report also recommends creating a fund to pay higher education and research-oriented companies to develop wind power technology and components.

The report also calls for the state to loosen the rules around some of the programs so they pivot more quickly and effectively to back emerging technologies. And it recommends the state appoint a statewide small business innovation research liaison to help link Rhode Island companies find federal financing opportunities.

To entice manufacturers and other businesses to adopt green technologies, the roadmap suggests that the state create incentives such as grants or tax credits to shorten the return on investment period.

Where the money would come from for all the new programs in a time of budget deficits is not detailed, but the report suggests that increasing the tax on electricity bills could help grow the Renewable Energy Fund. While not suggesting a specific increase amount, the report notes that Rhode Island’s present rate of 0.3 mills ($0.0003) per kilowatt-hour is low compared to Massachusetts and Connecticut, which charge 0.5 and 1.0 mills per kilowatt-hour, respectively.

To close the education gap, the roadmap calls for the state’s public colleges to create certificate and undergraduate programs in energy efficiency. The University of Rhode Island is also in a good position to host a Center of Excellence in Advanced Green Manufacturing, the report says.

The report calls for the establishment of a Green Workforce Research and Innovation Lab that would vet ideas such as integrating a green curriculum into the public schools or creating public sector jobs to temporarily “hold” trained workers until private jobs are created. The institute would also offer fellowships for green research, develop internships and educate regulators.

The report would also have state officials tinker with existing initiatives. The roadmap supports a plan to bring 4 percent of all residential, commercial and public buildings into compliance with broadly accepted energy efficiency guidelines each year. And it supports the R.I. State Building Commission’s goal to have 90 percent of all new or renovated buildings meet the standards by 2017.

The roadmap would also have state lawmakers change the law that requires National Grid to purchase some of its electricity through renewable energy sources. Right now, the report says, that is primarily handled through the purchase of Renewable Energy Credits (RECs), 95 percent of which come from out of state. The report would have lawmakers demand that more credits be purchased from Rhode Island-based projects.

Additional information is available at riedc.com.

Due to an editing error, an earlier version of this story said the Slater Technology Fund’s appropriation was $1 million this fiscal year; the appropriation was $2 million, a reduction of $1 million from the prior year.

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