Bill > H5485

This bill extends the renewable energy fund in Rhode Island until December 31, 2033, which aligns with the state's mandate to achieve 100% of electricity demand from renewable energy sources. Currently, electric distribution companies are required to maintain a charge of 0.3 mills per kilowatt-hour to fund renewable energy programs, and this bill moves the expiration date of this requirement from 2028 to 2033. The renewable energy programs, administered by the Rhode Island Commerce Corporation, focus on supporting power generation technologies, research and development activities, and projects related to renewable energy in Rhode Island. The bill aims to ensure continued support for renewable energy initiatives and compliance with federal grant requirements. The extension will allow the state to continue investing in and developing renewable energy resources, including solar energy technologies, on-grid and off-grid generating technologies, and related research activities. The bill will take effect immediately upon passage.

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