The Renewable Energy Fund (REF) was created in 2007 as a component of legislation known as the Renewable Portfolio Standard (RPS) law, RSA 362:F. The RPS law mandates that 25.2 percent of the state’s electricity come from renewable sources by 2025. Each year electric service providers comply with the law by acquiring Renewable Energy Certificates, or RECs, representing electricity generated from renewable sources. The portfolio requirements increase over time.
Electric service providers who cannot obtain sufficient quantities of RECs for a given compliance year are required to make Alternative Compliance Payments, or ACPs. ACPs provide the funding for the Renewable Energy Fund, the purpose of which is to support thermal and electrical renewable energy initiatives.
The Renewable Energy Fund, administered by the Public Utilities Commission, distributes funds through rebate programs or competitive grant solicitations. The REF provides funding for the following programs:
Annual Renewable Energy
Annual Compliance Reports
Note: Beginning in 2014, Annual Compliance Reports are incorporated into Annual Renewable Energy Fund Report