Signed by Governor Lincoln Chafee

Vote Smart's Synopsis:

Vote to pass a bill that establishes and expands the Renewable Energy Growth Program.

Highlights:

• Establishes the Renewable Energy Growth Program to continue financing the development, construction, and operation of renewable energy technologies over 5 years through a performance based incentive system (Sec. 1).

• Requires the Program achieve a set a target amount of nameplate megawatts (MW) per year according to the following schedule (Sec. 1): 
• For the first program year, 25 MW;
• For the second program year, 40 MW;
• For the third and fourth program years, 40 MW; and
• For the fifth program year, 160 MW. 

• Establishes a performance based incentive program to compensate individuals for residential small-scale solar projects through a combination of direct payments and the bill credit value of net metering (Sec. 1).

Full Bill Text