Rhode Island S3272 mandates electric distribution companies to offer 30-year contracts to system owner/operators, guaranteeing net metering credits.

Rhode Island S3272 requires electric distribution companies to offer system owner/operators 30-year contracts, guaranteeing the delivery of net metering credits valued at $0.19, with an annual escalation of 2.75%. The bill also reduces the megawatt cap for future eligible ground-mounted net-metering systems from 275 megawatts to 225 megawatts. The contracts must be offered by July 1, 2010, and include provisions for credit reductions and escalations. The bill aims to stabilize net-metered account bills and ensure fair compensation for renewable energy production.

Rhode Island S3272 mandates electric distribution companies to offer 30-year contracts to system owner/operators, guaranteeing net metering credits.

Rhode Island S3272 requires electric distribution companies to offer system owner/operators 30-year contracts, guaranteeing the delivery of net metering credits valued at $0.19, with an annual escalation of 2.75%. The bill also reduces the megawatt cap for future eligible ground-mounted net-metering systems from 275 megawatts to 225 megawatts. The contracts must be offered by July 1, 2010, and include provisions for credit reductions and escalations. The bill aims to stabilize net-metered account bills and ensure fair compensation for renewable energy production.