PRESS RELEASE: City to save $215K-$250K in energy costs with net-metering agreement

June 18, 2020

Office of the Mayor
Patricia Resende
(401) 529-3207

City to save $215K-$250K in energy costs with net-metering agreement
EAST PROVIDENCE, RI – East Providence Mayor Bob DaSilva, together with the City Council, is working with a local renewable energy developer to bring energy savings to East Providence.
Mayor DaSilva, the Council and other staff have been in talks with Green Development LLC, a Rhode Island-based renewable energy developer, since 2018 to implement a virtual net metering credit savings program, which will result in significant energy and financial savings to the City through Rhode Island’s net metering program.
The East Providence City Council approved the agreement, voting four to one in favor of the deal.
While there are still discussions regarding a potential long-term agreement, this short-term agreement would enable the City to test the waters with net-metering savings.
“We have always sought out ways to save our city and the taxpayers’ money,” Mayor DaSilva said. The City has an opportunity to see a savings of between $215,000 and $250,000 by partnering with Green Development in this program during this short-term period.
Under Rhode Island General Laws, Rhode Island’s Office of Energy Resources offers a Net Metering Policy allowing state and municipalities to receive savings from renewable energy projects without a monetary investment in the project. The savings are delivered through net-metering credits allocated by National Grid from the energy that is generated by renewable energy facilities.
Virtual Net Metering allows eligible customers to offset its energy costs and realize significant economic savings by receiving net metering credits from the energy generated by renewable energy facilities such as solar farms and wind turbines regardless of whether the renewable energy facility is located in another municipality. In addition to municipalities, eligible virtual net metering customers include, quasi-state agencies, educational institutions, non-profits, and hospitals.
The short-term agreement was ratified by the City Council on Tuesday, June 16, 2020.