Section 300-RICR-00-00-2.6 - TANGIBLE TAX VALUE FOR COMMERCIAL RENEWABLE ENERGY SYSTEMSA. The following formula and associated $5.00 dollar per kW is adopted by the Office in establishing the tangible tax value for commercial renewable energy systems to provide reasonable compensation to a municipality effective January 1, 2017. All such municipal ordinances and resolutions assessing tangible tax on commercial renewable energy systems must apply the following dollar value and formula. $5.00 kW x _____ Kilowatt A/C Capacity of the Commercial Renewable Energy System |
= $______ |
1. Example 1: A 2 megawatt ground mount solar system that will be receiving a 20-year tariff under the REG program and selling the electricity back to National Grid. $5.00 kW X 2,000 kW A/C Capacity of the Commercial Renewable Energy System |
= |
$10,000 annual revenue to the municipality |
$200,000 total revenue over the 20-year REG Program tariff to the municipality |
2. Example 2: A 1.5 megawatt wind turbine system that will be receiving a 20-year tariff under the REG program and selling the electricity back to National Grid. $5.00 kW X 1,500 kW A/C Capacity of the Commercial Renewable Energy System |
= |
$7,500 annual revenue to the municipality |
$150,000 total revenue over the 20-year REG Program tariff to the municipality |
300 R.I. Code R. § 300-RICR-00-00-2.6