Sub-program budget amounts for the 2022-2023 program year are listed below.
Program expenses are prorated across the sub-programs according to each sub-program’s Renewable Energy Resources Fund (RERF) allocation percentage under the law. The Adjusted RERF Budget for each sub-program is calculated by subtracting its allocated expenses from its initial RERF allocation.
The total 2022-2023 program year funds for Renewable Energy Credit (REC) incentives within each sub-program include any unallocated funds from previous program years plus the sub-program’s adjusted RERF budget and utility funds budget.
| Funding Source | Non-Profit and Public Facilities | Community Solar | Residential | ||||
|---|---|---|---|---|---|---|---|
| 25% | 40% | 35% | |||||
| RERF | $4,125,000 | $6,600,000 | $5,775,000 | ||||
| Available Rollover from PY22-RERF | $12,525 | $4,962,618 | $11,060,224 | ||||
| Expected Expenses | $1,369,595 | $2,191,352 | $1,917,433 | ||||
| Adjusted RERF Budget | $2,767,930 | $9,371,266 | $14,917,791 | ||||
| Utility Budget | $12,500,000 | $20,000,000 | $17,500,000 | ||||
| Available Rollover from PY22-Utility | $1,554,200 | $9,243 | $22,337,661 | ||||
| Total Budget | $16,822,130 | $29,380,509 | $54,755,452
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As described in the Agency’s 2022 Long-Term Renewable Resources Procurement Plan, the Agency will hold the initial budget allocations for the Residential Solar Small and Large sub-programs for the first nine months of the program year, at which time the two sub-program allocations would combine to be used on a first-come, first-served basis by projects of either sub-program.