The bill introduces the "Energy Storage Systems Act" to be added to Title 39 of the General Laws, focusing on the development and integration of energy storage systems into Rhode Island's electric power system. It aims to address the absence of an interconnection tariff that reflects the benefits of energy storage systems, such as improving grid reliability and reducing costs for ratepayers. The bill mandates the Public Utilities Commission to establish an energy storage system tariff and an interconnection tariff framework by September 1, 2024, with a model tariff to be ready by May 1, 2025. It also requires a storage assessment every three years and directs electric distribution companies with over 100,000 customers to procure storage systems if beneficial. The commission can hire consultants for assistance and assess costs to the electric distribution companies. Additionally, the bill amends Section 39-26.1-4 to include incentives for electric distribution companies that enter long-term contracts for renewable energy resources.

Furthermore, the bill sets targets for energy storage capacity, aiming for 90 MW by 2026, 195 MW by 2028, and 600 MW by 2033, with the possibility of future targets. The Rhode Island Infrastructure Bank is tasked with developing programs to meet these goals, supported by various funding sources. These programs are designed to support energy storage deployment across different customer classes and to facilitate the co-location of energy storage with distributed energy resources. Financial support options include grants, no-interest loans, and low-interest loans, but local distribution companies serving more than 100,000 customers are not eligible for this support. The Infrastructure Bank is also empowered to adopt necessary rules and regulations. The act will be effective upon passage, and the Public Utilities Commission is required to engage stakeholders in adopting the energy storage system tariff framework.

Statutes affected:
2499  SUB A: 39-26.1-4
2499: 39-26.1-4