§ 42-64-13.2 Renewable energy investment coordination. (a) Intent. To develop an integrated organizational structure to secure for Rhode Island and its people the full benefits of cost-effective renewable energy development from diverse sources.
(b) Definitions. For purposes of this section, the following words and terms shall have the meanings set forth in RIGL 42-64-3 unless this section provides a different meaning. Within this section, the following words and terms shall have the following meanings:
(1) "Corporation" means the Rhode Island economic development corporation.
(2) "Municipality" means any city or town, or other political subdivision of the state.
(3) "Office" means the office of energy resources established by chapter 42-140.
(c) Renewable energy development fund. The corporation shall, in the furtherance of its responsibilities to promote and encourage economic development, establish and administer a renewable energy development fund as provided for in § 39-26-7, may exercise the powers set forth in this chapter, as necessary or convenient to accomplish this purpose, and shall provide such administrative support as may be needed for the coordinated administration of the renewable energy standard as provided for in chapter 39-26 and the renewable energy program established by § 39-2-1.2. The corporation may upon the request of any person undertaking a renewable energy facility project, grant project status to the project, and a renewable energy facility project, which is given project status by the corporation, shall be deemed an energy project of the corporation.
(d) Duties. The corporation shall, with regards to renewable energy project investment:
(1) Establish by rule, in consultation with the office, standards for financing renewable energy projects from diverse sources.
(2) Enter into agreements, consistent with this chapter and renewable energy investment plans adopted by the office, to provide support to renewable energy projects that meet applicable standards established by the corporation. Said agreements may include contracts with municipalities and public corporations.
(e) Conduct of activities.
(1) To the extent reasonable and practical, the conduct of activities under the provisions of this chapter shall be open and inclusive; the director shall seek, in addressing the purposes of this chapter, to involve the research and analytic capacities of institutions of higher education within the state, industry, advocacy groups, and regional entities, and shall seek input from stakeholders including, but not limited to, residential and commercial energy users.
(2) By January 1, 2009, the director shall adopt:
(A) Goals for renewable energy facility investment which is beneficial, prudent, and from diverse sources;
(B) A plan for a period of five (5) years, annually upgraded as appropriate, to meet the aforementioned goals; and
(C) Standards and procedures for evaluating proposals for renewable energy projects in order to determine the consistency of proposed projects with the plan.
(f) Reporting. On March 1, of each year after the effective date of this chapter, the corporation shall submit to the governor, the president of the senate, the speaker of the house of representatives, and the secretary of state, a financial and performance report. These reports shall be posted electronically on the general assembly and the secretary of state's websites as prescribed in § 42-20-8.2. The reports shall set forth:
(1) The corporation's receipts and expenditures in each of the renewable energy program funds administered in accordance with this section.
(2) A listing of all private consultants engaged by the corporation on a contract basis and a statement of the total amount paid to each private consultant from the two (2) renewable energy funds administered in accordance with this chapter; a listing of any staff supported by these funds, and a summary of any clerical, administrative or technical support received; and
(3) A summary of performance during the prior year including
accomplishments and shortcomings; project investments, the cost-effectiveness
of renewable energy investments by the corporation; and recommendations for
(P.L. 2004, ch. 199, § 2; P.L. 2004, ch. 205, § 2; P.L. 2006, ch. 236, § 10; P.L. 2006, ch. 237, § 10; P.L. 2008, ch. 228, § 1; P.L. 2008, ch. 422, § 1; P.L. 2012, ch. 241, art. 4, § 16.)