CT SB00272

Expands microgrid grant and loan program to fund energy storage systems and distributed energy generation projects using Class I renewable or Class III energy sources placed in service after July 1, 2016, in addition to design and interconnection costs.

Allows department to establish various financing mechanisms to support development of interconnection infrastructure, distributed energy generation, and microgrids.

Requires aggregate renewable energy credit procurement to increase from $8 million in year one to $32 million annually by year four, with procurement continuing through year 21 with specified annual amounts and declining phases.

Mandates electric distribution companies solicit long-term contracts for year six procurement with Class I generation projects under 1,000 kilowatts with zero emissions, or under 2 megawatts with specified low emission limits, with each category capped at 50% of year six funding.

Authorizes Public Utilities Regulatory Authority to lower renewable energy credit price caps by 3-7% annually for contracts entered into from 2013-2017, considering bid results and technology cost reductions.