National Grid recently announced their 2013 enrollment schedule and pricing for Rhode Island’s feed-in tariff program, also known as Distributed Generation Standard Contracts. The program was created by an act of the same name in June 2011. In aggregate, it calls for a total of 40MW in new renewable energy procurement by 2014, with 10MW slated for this year. For solar, maximum prices range from $0.2995/kWh to $0.2495/kWh, fixed for 15 years, depending on system size.

Renewable energy projects including wind, solar, and anaerobic digestion are all eligible for the program, with certain distinctions based on technology and size. Small systems will be accepted at the ceiling price on a first-come, first-serve basis until capacity is filled. Larger projects will be awarded contracts based on competitive bid-in pricing submitted for each project. The Distributed Generation Standard Contract Board sets the ceiling prices and capacity targets for each enrollment period.

The 2013 ceiling prices and capacity targets for each subcategory are as follows:

Class Nameplate Target Nameplate 2013 Ceiling Price (cents/kWh)
Wind
(50 kW – 1500 kW)
(50-100 kW)
(200-999 kW)
(1,000-1,500 kW)
1500 kW
In Total
24.65
16.20
14.80
Solar-PV
(50 – 100 kW DC)
300 kW 29.95
Solar-PV
(101 – 250 kW DC)
250 kW 28.80
Solar-PV
(251 – 499 kW DC)
750 kW 28.40
Anaerobic Digestion
(400 – 500 kW)
500 kW 18.55
Solar PV/Anaerobic Digestion
(501 kW – 5000 kW)
1300 kW 24.95 / 18.55

The announced 2013 open enrollments include the two-week period from March 4th-15th, a second enrollment occurring in June, and a third in September. Each enrollment is only open for about two weeks at a time, so developers planning to participate in the program should take note of the scheduled openings.

The Sol Systems team will continue tracking this program, which based on the high feed-in tariff rate and substantial maximum project size, presents an excellent project development opportunity. If you have a project that has been submitted into the program or awarded a contract, and is in need of financing, please contact at our team at info@solmarket.com or (888) 235-1538×2.  Our team would be happy to discuss your project with you and assess financing opportunities.

About Sol Systems

Sol Systems is a boutique financial services firm that offers investor clients direct access to the renewable energy asset class and provides developers with sophisticated project financing solutions. Founded in 2008, Sol Systems focuses on meeting the most critical needs of the industry, including SREC monetization, capital placement, tax equity, and New Market Tax Credits. To date, the company has arranged financing for thousands of projects and facilitated hundreds of millions in investment on behalf of Fortune 100 companies, private equity, family offices and individuals.