870 R.I. Code R. 870-RICR-20-00-1.9

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Current through December 3, 2024

Section 870-RICR-20-00-1.9 - Pre-Development Feasibility Studies

A. Solicitations for Funding:

1. All program requirements shall be available on the Corporation's website.

2. All awards will be funded as low-interest loans contingent upon the ability for the project to be successful.

B. Eligible Sectors:

1. Businesses.

2. Institutions.

3. Non-profits.

4. Municipalities.

5. State Facilities.

C. Eligible Technologies:

1. Those technologies set forth in R.I. Gen. Laws § 39-26-5.

2. Technologies being studied must have the ability to generate electricity or provide a direct benefit to the electric grid, or aid in electricity usage.

3. Microgrids with demonstrated study requirements associated with necessary control systems or projects with new applications with necessary control systems that are designed to generate electricity or aid in electricity usage.

4. Solar Photovoltaic (PV) and Solar Domestic Hot Water (SDHW) are not eligible, unless approved otherwise.

5. All other innovative technologies must be approved administratively by the REF staff pursuant to R.I. Gen. Laws § 39-26-7.

D. Minimum Submission Requirements:

1. The following requirements, at a minimum, shall be evaluated:

a. For Municipal Projects:

(1) Any municipality applying for a pre-development feasibility study must include evidence of a Town/City Council vote in favor of the proposed project.

(2) The applicant must have evidence of its legal ability to borrow money on behalf of the municipality.

b. Detailed scope of work.

c. Detailed project budget.

d. Contracts with all major subcontractors working on the Study,

e. Clear evidence of cost-sharing specific to the Study, and

f. The municipality must have an ordinance in place allowing development of the proposed project.

E. Eligibility Requirements:

1. The following criteria, at a minimum, shall be evaluated:

a. Technical Feasibility

b. Financial Feasibilit

c. Cost per kWh of energy produced.

d. Experience of Project Team.

F. A complete list of updated program application requirements can be found on the RICC website under the REF section.

G. The Corporation may choose to fund all, part, or none of a Predevelopment Feasibility Study based on the likelihood of development.

H. Loans will be repaid upon completion of the project.

I. If the project is found to be technically and economically feasible but the project is not commenced or completed within specified time frame, as per application requirement for the project, the loan must be repaid to the Corporation.

870 R.I. Code R. 870-RICR-20-00-1.9

Amended effective 2/21/2019