Electric Heat Sample Clauses

Electric Heat. Narragansett Electric will implement an electric heat initiative. The purpose of this initiative is to launch new and innovative electric heat services for customers and to accelerate efficient heat electrification in Rhode Island through supporting market development strategies. The electric heat initiative will consist of equipment incentives to lower the upfront cost barrier for Rhode Island residential customers to convert to efficient cold-climate air-source or ground-source heat pump systems. Narragansett Electric will offer rebates to a mix of standard offer service, competitive supply, and Income Eligible customers, with approximately fifty percent (50%) of the rebate budget to be used for Income Eligible customers. Eligibility for the program will be limited to residential customers for whom efficient electric heating has a Societal Cost Test ratio greater than 1 (e.g., currently delivered fuel customers and electric resistance customers). Narragansett Electric will conduct and deliver this initiative in close alignment with the Company’s Energy Efficiency program. For standard offer service customers, the rebate level will depend on the installed system. For Income Eligible customers, the rebate level will be one hundred percent (100%) of the all-in cost of heating capacity. The proposal previously included in Docket No. 4780 to convert one large commercial or industrial oil heated building to Geothermal Heat Pumps is eliminated from the electric heat initiative. The revenue requirement for this initiative will include $0.4 million in Rate Year 1, $0.5 million in Rate Year 2, and $0.5 million in Rate Year 3. The costs of this initiative shall be subject to a deferral mechanism, as described in Section 20, below.
Sample 1
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