Three New England states working together to drive down renewable energy costs

New England Connecticut Vermont Massachusetts renewable energy buyer's market production tax credit

Three New England states are planning joint solicitations for renewable energy in an attempt to create a buyer’s market and driving down the costs of renewable energy, according to a report from Platts.

Connecticut officials said at a news conference Monday the state will be working with Massachusetts and Vermont to fast-track a joint solicitation for renewable energy. According to Platts, Connecticut also plans to increase its renewable portfolio standard and allow large hydroelectric projects to participate.

Connecticut officials said they expect two solicitations without giving firm dates, adding the state hopes to move forward with the first one soon so projects can take advantage of the extended federal Production Tax Credit, according to Platts.

Although Connecticut invited additional New England states to participate in the joint solicitation, only Vermont and Massachusetts are participating in the first round. Platts reported that Connecticut officials have said Rhode Island and New Hampshire may participate in the second solicitation.

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