Renewable Energy Fund Rules and Regulations
State of Rhode Island and Providence Plantations
Rhode Island Economic Development Corporation
Pursuant to the provisions of Rhode Island General Laws §§ 42-35-3(a)(1) and 42-35-3(a)(2), as amended, the Rhode Island Economic Development Corporation (the “Corporation”) held a public hearing on November 17, 2008 at 10:00 a.m. at Rhode Island Economic Development Corporation, Suite 101, 315 Iron Horse Way, Providence, Rhode Island 02908, in order to afford all interested persons an opportunity to submit data, views, or arguments, orally or in writing, in response to the Corporation’s plan to adopt Rules and Regulations entitled, Rules and Regulations for the Renewable Energy Development Fund Including the Municipal Renewable Energy Investment Program and the Non-Profit Affordable Housing Renewal Energy Investment Program (collectively, the “Rules”).
The Rules implement the legislative intent of amendments to statutory authority placing the administration of the Renewable Energy Development Fund and related programs with the Corporation pursuant to Rhode Island General Laws Sections 42-64-13.2; 39-2-1.2; and 39-26-7. These Rules were prepared by the Corporation and are established for the purpose of setting forth the implementation standards for funding pursuant to the Renewable Energy Development Fund and related programs.
The Rules are on file at the Rhode Island Economic Development Corporation, Suite 101, 315 Iron Horse Way, Providence, Rhode Island 02908. A copy of the proposed Rules may be obtained in person from the Corporation, by mail by calling 278-9100, or may be accessed from the download area at the bottom of this page.
Reference is also made to Chapters 42-35 of the Rhode Island General Laws, specifically sections 42-35-2.1, 42-35-2.2, 42-35-2.3, 42-35-3(a)(5), 42-35-3.1, 42-35-4, 42-35-9.
Sherri Carrera, Rules Coordinator
401-278-9100
Date of Notice: October 24, 2008
Concise Explanatory Statement of Rules Pursuant to RIGL Section 42-35-2.2 and 2.3
The Rules set forth the funding criteria utilized by the Corporation in connection with the Renewable Energy Development Fund (the “Fund”) and related programs mandated by applicable legislation. Specifically, the Corporation will receive applications for funding for renewable energy projects, and consider them in the context of criteria including but not limited to technical feasibility, amount of generated renewable energy, cost per kilowatt and financial viability of the project. The Fund and related programs may be used for technical feasibility analysis, municipal renewable energy investment and non-profit affordable housing development, as well as other renewable energy projects as determined by the Corporation.
