§ 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 § 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 commerce 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 140 of this title.
(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 26 of title 39 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) [Deleted by P.L. 2015, ch. 141, art. 14, § 11.]
(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 improvement.