Renewable Energy Generation
Renewable Energy Generation within Holy Cross’s service territory. Holy Cross will pay up to $1.50 per watt (see below) of installed capacity for renewable electricity generation using biomass, geothermal technology, hydroelectric, photovoltaic, or wind up to six (6) kilowatts (kW) per installation. The maximum incentive is up to $9,000 per system subject to availability of funds. The incentive payment will not exceed 50% of the actual installed cost.
The incentive of $1.50/watt is based on a payment of $1.00/watt (generation facility “hardware”) plus a payment of $0.50/watt (renewable energy credit or “REC”); each paid up to the maximum system cap of 6 kW.
In exchange for the $0.50/watt REC payment, Holy Cross shall be entitled to all rights, title and interest in and associated with said RECs including all REC Reporting Rights for a period of ten (10) years. A “REC Sale and Assignment Contract” shall be executed between the Holy Cross and its Consumer of Record.
Holy Cross will provide net metering for consumers installing renewable energy generation facilities up to 500 kW (solar photovoltaic) and up to 50 kW (other eligible renewable generating systems).
Holy Cross may also negotiate “Power Purchase Agreement (PPA)” contracts with consumers installing renewable generation facilities within our service territory.
Consumer’s generation facilities must be connected to Holy Cross’s electric distribution system to qualify for renewable energy incentives.