RIEDC’s Renewable Energy Fund Awards First Municipal Grant
January 21, 2009 | Print this page | Share This |
The Rhode Island Economic Development Corporation (RIEDC) announced today that it has awarded the town of Jamestown with the first municipal grant as part of the state’s Renewable Energy Fund (REF). The town of Jamestown was awarded a $30,000 grant in order to conduct a wind power feasibility study to determine the feasibility of erecting and operating wind turbines in that municipality.
“I am pleased that we have been able to identify statewide renewable energy opportunities and respond quickly to these requests,” said J. Michael Saul, interim executive director, RIEDC. “This project supports the REF’s mission of promoting energy independence and building our capacity to create “green sector” jobs in our economy. We look forward to making further investments throughout the Ocean State through the REF.”
The town’s feasibility study will include identifying and preliminarily ranking the top five turbine sites identified by the Wind Energy Committee. The town will also be matching this grant award with an investment of $25,000.
Created by legislative statute in 1996, the REF is dedicated to increasing the renewable energy supply in Rhode Island. The REF aims to make these investments in the “green sector” of the Rhode Island economy, attracting green businesses to Rhode Island, creating a green workforce and increasing the number of “green collar” jobs in the state.
Municipalities, non-profit organizations or legal business entities (sole proprietorship, partnerships, corporations, and limited liability companies) are eligible for a REF grant, as long as the project directly benefits the state of Rhode Island. Applications can be submitted for any type of facility including manufacturing facilities, office buildings, multi-unit residential properties, retail operations, healthcare facilities, educational institutions, public buildings and farms that are looking to undertake renewable initiatives.
Renewable-energy systems eligible for support from the REF include facilities in the New England Power Pool control area that generate electricity, both off-grid and on-grid, using fuel as eligible renewable energy resources pursuant to Rhode Island general law. This includes solar, wind, energy produced by movement or the latent heat of the ocean, hydro and eligible geothermal, biomass, and fuel cells. Solar-thermal systems (including solar space-heating systems) are eligible if installed on low-income housing projects certified by the Rhode Island Housing and Mortgage Finance Corporation as serving low-income Rhode Island residents. Projects and activities directly related to implementing eligible renewable energy projects in the state are also eligible for funding. To view the application please visit www.riedc.com/business-services/renewable-energy
The REF designates up to $1 million per year for municipal projects, capped at $500,000 per award. Affordable housing projects are eligible for up to $200,000 in funding, capped at $100,000 per award. Approximately $200,000 per year is designated for pre-consultant and technical feasibility studies, with no funding cap. Recipients that have previously received funding from the REF are ineligible to apply for additional funding for technical feasibility and consulting studies. All other projects are limited to $250,000 in annual funding.
Oversight of the REF was transferred from the Office of Energy Resources to the RIEDC at the close of the 2008 Rhode Island legislative session. The Fund currently has a balance of $4.1 million, of which $3.2 million is committed to Special Area Management Plan (SAMP) being conducted by the University of Rhode Island and the Coastal Resources Management Council.
According to legislative statute, the REF requires annual grants for $1 million for local municipal renewable energy projects and $200,000 for affordable housing initiatives. National Grid contributes $200,000 per month to the REF based up on surcharge fees collected.
