Dunsky Energy Consulting performed a Market Potential Study, commissioned by the EERMC, for the State of Rhode Island. The Potential Study covers the six-year period from January 1, 2021 to December 31, 2026 and includes electricity, natural gas, oil, and propane energy savings; passive electric demand reduction savings and active demand response savings; and the costs and benefits associated with these savings.

• Final Market Potential Study Report – Results Chapters – Published: May 21, 2020
• Final Market Potential Study Report – Methodology – Published: May 21, 2020
• Final Market Potential Study Report – Data Results – Published: May 21, 2020
• Final Market Potential Study Report – Graphical Summary – Published: June 11, 2020
• Final Market Potential Study Report – Slide Deck (Revised June 9, 2020) – Published: June 24, 2020

As Rhode Island continues to set nation-leading goals for customer-side investments in least-cost energy efficiency, increasing attention has been paid to the role that financing might play in expanding the reach of programs, lowering their overall costs, and otherwise supporting the wider and hastened adoption of efficient and clean energy technologies.

In 2014, the EERMC commissioned a study by Dunsky Energy Consulting to evaluate how new and existing energy efficiency financing strategies could potentially support Rhode Island’s public policy of Least-Cost Procurement. Dunsky Energy Consulting worked with a group of energy efficiency and finance stakeholders over the course of five months to explore the following research objectives:

1. Defining the purpose of an expanded focus on financing
2. Clarifying terminology related to financing
3. Reviewing how Rhode Island currently uses financing
4. Learning what other jurisdictions have done regarding financing
5. Discussing which financing methods make sense for Rhode Island
6. Understanding the benefits and costs of financing
7. Specifying how Rhode Island would smooth the way for expanded use of financing
8. Exploring wider financing opportunities

Links to the meeting presentation materials and the final Dunsky memo are included below.

• Kick-Off Meeting – September 29, 2014
• Jurisdictional Scan and RI Programs Review – October 24, 2014
• Green Banks and Financing Opportunities – November 21, 2014
• Recommendations and Next Steps – January 29, 2015
• Recommendations and Next Steps – February 12, 2015
• A Review of Energy Efficiency Financing in Rhode Island: Memo on Findings – February 19, 2015

The General Assembly designed the 2006 Comprehensive Energy Bill to maximize ratepayers’ economic savings by placing a clear requirement on the distribution utility to procure all energy efficiency that is less costly than supply. To help determine the quantity of such efficiency resources and the cost savings to be enjoyed by Rhode Island ratepayers, the General Assembly charged the EERMC with producing an Opportunity Report that would identify: (1) the quantity of low cost efficiency resources existing in Rhode Island homes, business, and institutions and (2) System Reliability resources such as distributed generation, small scale renewables, and demand response in the state. The studies that follow were commissioned, directed, and managed by the EERMC to meet these goals. These studies are to be used by National Grid in developing its Least Cost Efficiency Procurement and System Reliability Plans, and by the EERMC in guiding the development of state policies and practices consistent with the findings and directives of the 2006 Comprehensive Energy Bill and the PUC’s Standards for Energy Efficiency and System Reliability Procurement.

• Opportunity Report Phase I – Published: July 15, 2008
• Opportunity Report Phase II – Published: August 30, 2010
• Opportunity Report – Gas and Unregulated Fuels – Published: July 11, 2012

Rhode Island Energy is the primary utility in Rhode Island, as it serves 99% of electric and gas customers. The Pascoag Utility District serves a portion of Burrillville and Block Island Power Company serves New Shoreham. Because Rhode Island Energy is the primary utility in the state, it is often referred to as “the utility” or “the Company.” Rhode Island Energy is also the primary energy efficiency program administrator in Rhode Island, maintaining a wide portfolio of successful programs.

The Energy Efficiency and Resource Management Council (EERMC or Council) provides oversight of Rhode Island’s ratepayer funded energy efficiency programs and structured stakeholder participation. The Council includes fifteen members that represent small and large business, non-profit organizations, market rate and low-income homeowners and renters, municipalities, governments and environmental science and policy. The Council’s goal is to ensure Rhode Islanders are getting the least expensive and most environmentally healthy energy supply through energy efficiency, conservation, and resource management.

More information: About the EERMC

The Rhode Island Public Utilities Commission (PUC) is a quasi-judicial body that regulates Rhode Island utilities. In addition to regulating electric distribution and pipeline public utilities, the PUC also has jurisdiction over gas, water, railroad, ferry boats, telephone, and telegraph. The PUC has three Commissioners appointed by the Governor to six-year terms with the advice and consent of the Senate. The Commissioners hold public hearings on rates, tariffs, and charges by the utility, among other items. Its role in energy efficiency involves approving utilities’ Annual Energy Efficiency (EE) and System Reliability Procurement (SRP) Plans (including the System Benefits Charge), Three-Year Energy Savings Targets, and Least Cost Procurement Standards.

More information: RI Public Utilities Commission

The Division of Public Utilities and Carriers (DPUC or “Division”) is the regulatory arm that represents the ratepayer in rate cases and filings with the Public Utilities Commission. The Division is a settling party to EE and SRP Plans and participates in the Energy Efficiency Technical Working Group.

More information: RI Division of Public Utilities and Carriers

The Office of Energy Resources (OER) is Rhode Island’s lead state agency on energy policy and programs. OER works closely with private and public stakeholders to increase the reliability and security of the state’s energy supply, reduce energy costs and mitigate price volatility, and improve environmental quality. OER operates at the nexus of the many ongoing efforts to transform the Ocean State energy system. Its role in energy efficiency includes working closely with the Council and its consultant team to review EE and SRP Plans.

More information: RI Office of Energy Resources

National Grid’s Rhode Island Energy Efficiency Technical Working Group (formerly known as the Demand Collaborative) is a group of energy efficiency stakeholders that meets monthly to inform the development, implementation, and evaluation of National Grid’s EE and SRP Plans. National Grid has facilitated the Collaborative since 1991 as a means to create transparency around the development of annual EE and SRP Plans and to work towards building consensus with organizations before the plans are filed with the PUC each year.

More information: EE Technical Working Group