Virgin Islands Incentives/Policies for Renewables & Efficiency |
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Last DSIRE Review: 05/10/2012
Program Overview:
| State: |
Virgin Islands |
| Incentive Type: |
Renewables Portfolio Standard |
| Eligible Renewable/Other Technologies: |
"Renewable Resources" is not specifically defined in the law. |
| Applicable Sectors: |
Utility |
| Standard: | 20% by 2015; 25% by 2020; 30% by 2025; increasing until 51% of generating capacity is derived from renewable or alternative energy. |
| Technology Minimum: | No |
| Credit Trading: | No |
| Web Site: |
http://www.vienergy.org/index.html
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Authority 1:
Date Enacted:
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Act 7075
07/03/2009
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Summary:
In July 2009, the Virgin Islands passed Act 7075. Among other provisions, the legislation establishes that the "peak demanded generating capacity" of the Virgin Islands Water and Power Authority* must be from renewables according to the following schedule:
- 20% by January 1, 2015
- 25% by January 1, 2020
- 30% by January 1, 2025
It further establishes that a "majority" of this generating capacity must come from renewables or alternative technologies beyond 2025. Joint rulemaking is to be undertaken by the Virgin Islands Energy Office and the Virgin Islands Water and Power Authority, although the rules are not yet available (as of February 2011). All of the implementation details of the standard will be developed as a result of the rulemaking.
It should be noted that in early 2010, the US Virgin Islands signed a Memorandum of Understanding with Department of Energy (Office of Minority Economic Impact) and the US Department of Interior (Insular Affairs) to further develop the US Virgin Islands clean energy strategies. The goal set within that Memorandum of Understanding was 60% of the USVI's energy needs would be met by renewables by the year 2025. The USVI is also part of the Energy Development in Island Nations (EDIN) international partnership.
*The Virgin Islands Water and Power Authority is an autonomous entity within the Government of U.S. Virgin Islands. This public utility provides electricity to St. Thomas, St. John, St. Croix, Water Island, and Hassel Island.
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Contact:
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Don Buchanan
Virgin Islands Energy Office
4101 Mars Hill
Frederisksted
St. Croix , VI 00840
Phone: (340) 713-8436 Ext.3612
Fax: (340) 772-0063
Web Site: http://www.vienergy.org/
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Disclaimer: The information presented on the DSIRE web site provides an unofficial overview of financial incentives and other policies. It does not constitute professional tax advice or other professional financial guidance, and it should not be used as the only source of information when making purchasing decisions, investment decisions or tax decisions, or when executing other binding agreements. Please refer to the individual contact provided below each summary to verify that a specific financial incentive or other policy applies to your project.
While the DSIRE staff strives to provide the best information possible, the DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. make no representations or warranties, either express or implied, concerning the accuracy, completeness, reliability or suitability of the information. The DSIRE staff, the N.C. Solar Center, N.C. State University and the Interstate Renewable Energy Council, Inc. disclaim all liability of any kind arising out of your use or misuse of the information contained or referenced on DSIRE Web pages.
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