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REV Fights for Increased Net-Metering Compensation

by | Apr 27, 2022

The Public Utilities Commission is considering a recommendation by the Department of Public Service to cut net-metering compensation for the sixth time in six years. Reducing net-metering compensation, and slowing rates of renewable deployment, would be contrary to the public interest, undermine our ability to comply with the Global Warmings Solutions Act, and perpetuate a massive and ongoing cost-shift to the next generation. On Monday, REV argued that as we ask Vermonters to electrify everything it is time to increase compensation for net-metering.

Guiding Principles:

  • All Vermonters should have meaningful access to net-metering
  • Complying with the GWSA requires massive new renewable deployment
  • An insufficient rate of net-metering deployment hurts Vermont and Vermonters

Key Findings: The Department is recommending cutting net-metering compensation while:

  1. net-metering interconnections have been declining steadily since 2016,
  2. the Federal Investment Tax Credit (ITC) is scheduled to drop in both 2023 and 2024,
  3. development costs are rising,
  4. supply chain disruptions, inflation, and interest rate increases are occurring,
  5. the Department itself is unsure of the impact of NM 2.3 and 2.4 on interconnection and CPG application trends, and
  6. complying with the GWSA will require significant growth in new renewable energy capacity.

Our Ask: Update the statewide blended residential rate to $0.17141/kWh, as recommended by the Department, and additionally to increase the REC adjustor by $0.015/kWh – $0.03 kWh to offset the adverse impacts of the decline in the Federal ITC.

Read REV’s full filing here.

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