Progress to Targets for FY 2015 - Connecticut Green Bank

Progress to Targets for FY 2015 - Connecticut Green Bank

Green Energy Contractor Conference Transitioning the Behind the Meter Solar PV Market in CT November 29, 2018 Panelists Moderator: Emily Basham, CT Green Bank [email protected] Panelists: Selya Price, CT Green Bank, [email protected] Stephen Lassiter, Sunrun Stephan Hartmann, Ross Solar, A ConEdison Solutions Company Ed Merrick, Trinity Solar James Schwartz, Independence Solar

2 2 2 Agenda Background Overview and Status of PA 11-80, Section 7 Residential Commercial Key aspects and opportunities Structure of tariff Process of developing tariff Impacts of decisions Opportunities for contractors to get involved

Goal: Bring contractors up to speed on whats been determined in the implementation of Section 7 tariffs, whats left to be determined and the importance of all providing input into the process by which these tariff rates are set. 3 3 3 Background Comprehensive Energy Strategy (CES) finalized early 2018 Senate Bill 9 signed into law as Public Act 18-50 in May 2018 implementing the CES: Section 7 tariffs - fixed per kWh rate for 20 yrs for energy + RECs Shared Solar Program - opens the market for 25 MW/yr of deployment Commercial/Institutional Program ZREC/LREC successor for 60 MW/yr 50 MW to ZREC-qualifying, 10 MW to LREC-qualifying PURA establishes multi-track dockets for tariff-setting, current docket is PURA Implementation of Section 7 (Docket 18-08-33); meaning

many aspects of new structure are not yet determined Residential Program post-RSIP/300 MW market (starting Q3/Q4 of 2019) PURA currently soliciting joint proposals on interim tariff which can bridge gap between RSIP and tariff structure Retail net metering goes away for new customers, grandfathers RSIP customers through 2039 with net metering 4 Residential Overview Net metering plus RSIP (current compensation) Net metering at retail rate plus incentive provided through Residential Solar Investment Program (RSIP) administered by CT Green Bank (REC value recovered through SHRECs).

RSIP established in PA 11-80, updated by PA 15-194 to support deployment of not more than 300 MW of new residential solar PV in CT on or before Dec.31, 2022. and foster the sustained, orderly development of a state-based solar industry. RSIP has approved 240 MW as of 11/25/18 (30,000+ projects), and is anticipated to reach 300 MW of approved projects by early Q4 2019, depending on 2019 volume. 5 Residential Overview PA 18-50, Section 7 (new tariff structure)

New Compensation Structure Legislation sets new structure, PURA proceedings determine details Systems up to 25 kW, sized to onsite load, 1-4 family dwelling Option 1: buy all, sell all or buy all, credit all (BASA) Option 2: net export or use, buy, sell (UBS) Netting period for option 2 must be daily, sub-daily or instantaneous Rate-setting based on 1) competitive solicitation results of larger C&I sector, or 2) average installed cost + just, reasonable, adequate customer rate of return. DEEP calculator to support rate-setting. Possible adders for storage, location, TOU, other priorities in CES. PURA may establish interim tariff (structure not predetermined Status/Timing Utility metering plus billing systems not yet ready for option 2 fully. Interim tariff likely to be decided by end of 2018 and implemented by mid-2019 to overlap with RSIP and be available until tariff structure is 6 fully implemented

PA 18-50 tariff structures Metering configurations PURA DOCKET 18-06-15: PURA REVIEW OF THE IMPLEMENTATION REQUIREMENTS OF SECTION 7 OF PUBLIC ACT 18-50 7 Source: Eversource presentation to PURA 8/17/18 Commercial Overview PA 18-50, Section 7(a) Pre-Determined: a) 20 Yr tariff, b) 2MW, c) 50 MW/year, d) competitive bids 2MW, c) 50 MW/year, d) competitive bids PA 18-50 Outlines TBD in PURA Docket 18-08-33 Netting period 1 Day 1 Day Real-time/hourly/daily?

Project size tranches i) # of tranches ii) size ranges? BASA & Self-Consumption (Netting) How to compare bids? (50 MW/yr) Metering options Real world implementation? Fixed rate incentive i) Cash and/or bill credit ii) to 3rd Party? LREC/ZREC sized to customer load

How to define (combine on site meters, future load growth, EVs, etc..)? VNM for Muni, State, Ag 3rd party sites? Bid price cap What level? Other factors allowed TOU pricing, Storage, Grid location? 8 Key aspects and opportunities Contractor commentary/discussion Structure of tariff

BASA vs UBS customers and opportunities Netting interval Self-consumption Metering configuration and ability to incorporate battery storage System sizing vs load Interim tariff (see next discussion topic) Aspects unique to commercial projects, including virtual net metering 9 Key aspects and opportunities Contractor commentary/discussion

Process of developing tariff Residential If basing tariff on cost-recovery plus rate of return, can use DEEP tariff calculator to support rate-setting process but important to provide feedback on key inputs including installed cost ($/W), utility escalator, rate of return Timing important to sustain industry through transition importance of and update on interim tariff Commercial tariff development process 10 Key aspects and opportunities Contractor commentary/discussion Impacts of decisions Assuring that projects are financeable

Economics to customers and to investors Are revenue streams taxable? If yes, need higher tariff rates. Allowing for third party payments Impact of decision around sell vs credit Potential impacts to businesses and the state Jobs, clean energy goals Perspectives from operating in other states Impacts and recovery when we dont get policies right Concern about tariff-based markets not being robust Learning curve - dont currently operate in tariff-based markets 11 Opportunities for Contractor Involvement Engage with Solar Connecticut, other contractors, and the

Green Bank to share your input - pooling knowledge to provide correct information and consistent message to provide the industry perspective into the PURA process Check the Green Bank PowerClerk login page for RSIP progress toward 300 MW: Engage in PURA dockets: Tariff docket, 18-08-33. Upcoming hearing on C&I procurement plan Dec. 4th 10am at PURA in New Britain Distribution System Planning Docket, 17-12-03 (has lots of background on utility systems) Sign up for public notification emails *Must Use Internet Explorer for PURA site 12 APPENDIX

13 Federal Tax Credit for Solar Energy Solar Investment Tax Credit (Fuel cells and combined heat-and-power excluded in Dec. 15 tax extender package) *In 2022, residential credit expires and commercial credit stays at 10% 14

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