Governor Donald L. Carcieri recently submitted legislation (Senate bill 943) to the General Assembly to create a Rhode Island Power Authority, which would spearhead the development of renewable energy sources and ensure that Rhode Islanders are the primary beneficiaries of the electricity those sources produce.

Senate Republican leader Dennis Algiere (R-Dist. 38, Westerly, Charlestown) is the lead sponsor of the bill on the Governor’s behalf. The Senate Committee on Corporations is scheduled to hold a hearing on the legislation Thursday at approximately 4:30 p.m.

The bill represents another step forward in the Governor’s efforts to achieve the goal of generating 15 percent or more of Rhode Island’s electricity needs from renewable energy sources. The Governor had previously enunciated the need for a Power Authority in his State of the State address January.

The Rhode Island Power Authority (RIPA) would be a quasi-governmental agency with the authority to borrow and conduct other independent financial transactions, much like the Economic Development Corporation. Under the Governor’s proposal, RIPA would be responsible for authorizing and helping to finance the development of renewable energy sources, such as wind power and hydroelectric projects. The new agency would also be authorized to trade the electricity generated by these projects in order to ensure that it is made available to Rhode Island consumers.

Continue reading Small State, Big Plans Rhode Island Takes Steps Toward A Renewable Energy Future →