CT SB00860

Extends the renewable energy credit procurement program by one additional year, requiring electric distribution companies to seek new contracts for a total of seven years instead of six years after year four.

Increases annual procurement amounts by $8 million per year in years five, six, and seven, then maintains $56 million annually in years eight through fifteen, and declines by $8 million per year in years sixteen through twenty-two.

Modifies contract solicitation requirements for years six and seven to include zero-emission Class I generation projects under 1,000 kilowatts and low-emission projects under 2 megawatts with specified emission limits for nitrogen oxides, carbon monoxide, volatile organic compounds, and particulates.

Allows the Public Utilities Regulatory Authority to lower the renewable energy credit price cap by three to seven percent annually during each of the seven years of the program, based on bid results and foreseeable technology cost reductions.

Takes effect July 1, 2017.