III. “Meta” Projects 2) In addition, the state energy strategy should include: » The supply requirements and demand forecasts for Meta projects are projects that have emerged from two or electricity, natural gas, coal and petroleum products more acceleration initiatives. Rather than having the initia- tives duplicate their efforts, the individual projects have » Assessments of existing electric generation, been combined into meta projects. Meta projects will have transmission and distribution systems, fuel transmission work teams that include representatives from all appropri- facilities, delivery and storage systems, and energy ate initiatives. transport systems to meet supply requirements Develop a Comprehensive » Projected energy process over the forecast periods State Energy Strategy » potential and opportunities for promoting sustainableAssessments of the costs, benefits, uncertainties, market Rhode Island is faced with energy and environmental alternatives to traditional energy resources challenges that impact all facets of its citizens’ lives and » Assessment of the environmental, health and economic stifle the general welfare. The conditions include high impacts associated with electricity production energy costs, reliance on imported fuels, aging energy briefs should form the basis of policy and program Comparison of energy prices for various customer classesContext and Conditions for Green Companies Organize Access to Capital in the energy strategy » energy-related decisions » competitiveness » » » mitigation measures » - , its assessments and issue 1 - - v 1.0Assessment of the state’s environmental policies andprograms which impact the state’s development andimplementation of energy policies and programsAn inventory of greenhouse gas emissions andstrategies for facilitating and accelerating the useof low carbon energy sources and/or carbonAssessments of the costs, benefits and uncertainties oftraditional and alternative measures required to meetsystem demands over the forecast periodsState energy policies and programs intended tosupport economic development, including thoseintended to advance the green economy» infrastructure and a high unemployment rate. In order to address the needs of the market and further advance the economy, Rhode Island should adopt a comprehensive energy strategy that takes into account today’s environmental challenges, the economic climate and ratepayer affordability. In order to achieve this, the plan must consider energy conservation, efficiency, renew able generation and overall reliability. The process for drafting the plan should be a collaboration of stakeholders, including the executive and legislative branches of govern ment, state agencies, business and labor organizations, academic institutions and other interested parties. The elements of the strategy* recommendations for the Rhode Island Comprehensive provided by electric and natural gas utilities of the state State Energy Strategy: 2010 - 2020. with those in other states to determine business The state plan should include, but not be limited to: 1) The long-range energy policy objectives and strate The role of environmental justice considerations in gies appropriate to increase energy supply, reduce energy demand and stabilize price should consider factors that Recommendations for administrative and legislative include: actions to implement policies and objectives set forth » Diversity of the energy portfolio » Public health and security » Affordability to ratepayers » The economic competitiveness of the state » The state’s natural resources Rhode Island sees new economic opportunities based on » The reduction of greenhouse gases green ideas, practices and businesses. To fuel the growth of these opportunities, or any of Rhode Island’s economic » Energy conservation and efficiency opportunities, capital will be vital. » Renewable energy Overall, capital access in RI is fragmented, and significant » The reliability of electric and natural gas systems gaps exist along the capital spectrum (i.e., from seed / » Existing energy policies and objectives early stage to bank debt). Further, no logical continuum of funding exists to move a venture from business idea into » Existing infrastructure assets and essential improvements production and then business sustainability. Even when the » Existing private and public capital programs various existing funds are laid out as a continuum, there are gaps, especially in equity and mezzanine funding. Advancing the Green Economy in Rhode Island * See Notes, page 20 5
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