If your business is located in a capacity energy market, then capacity charges may constitute a significant portion of your electricity expenses. Capacity charges typically make up about 25% of your total expenses, but they can vary depending on region, facility load profile and energy year.
What is a Solar Renewable Energy Credit (SREC)?
On September 23, 2016, the Massachusetts Department of Energy Resources (DOER) presented its straw proposal for the solar panel incentive program to succeed SREC II. With the new program, the DOER aims to continue sustainable development of solar resources in the Commonwealth at a low cost to ratepayers under Chapter 75 of the Acts of 2016 (signed into law by Governor Baker this past April).
Rhode Island recently implemented a number of initiatives to help increase renewable energy generation in the state. These initiatives support Rhode Island’s goal of supplying 14.5% of its retail electricity sales from renewable energy by 2019. High electricity costs and strong incentive programs make going solar a very attractive financial option for businesses in Rhode Island. Listed below are some of the state specific incentives that supplement the overarching federal solar incentives.