Puerto Rico - Green Energy Fund Tier I Incentive Program

With funding from Puerto Rico's Green Energy Fund, Tier I rebates are available for photovoltaic (PV) and wind systems up to and including 100 kW in capacity on a first-come, first-served basis.  Projects are eligible for a rebate up to 40% of installed costs, as long as the calculated dollar per watt installed cost is less than the Reference Cost. If project costs exceed the Reference Cost, the incentive will be calculated by using the Reference Cost. Note, higher Reference Costs are allowed in the Special Vieques-Culebra Economic Development Zone. The standard Reference Costs are:

• Photovoltaic (PV) less than or equal to 15 kilowatts (kW):  $3.75/Watt (W)
• Small wind turbines less than or equal to 15 kilowatts (kW): $3.45/W
  
• Photovoltaic (PV) greater than 15 kW and less than or equal to 100 kW: $3.75/W
• Small wind turbines greater than 15 kW and less than or equal to 100 kW: $3.45/W

Higher GET Reference Costs will be allowed for GEPs to be developed in the Special Vieques-Culebra Economic Development Zone, as defined in Act No. 153 of August 10, 2002. The following reference costs will apply for GEPs sited in Vieques or Culebra:

• Photovoltaic (PV) less than or equal to 15 kilowatts (kW):  $4.25/Watt (W)
  
• Small wind turbines less than or equal to 15 kilowatts (kW): $3.95/W
•  Photovoltaic (PV) greater than 15 kW and less than or equal to 100 kW: $4.25/W
• Small wind turbines greater than 15 kW and less than or equal to 100 kW: $3.95/W
  

For this funding cycle, there is $1,000,000 available systems 15 kW in capacity or less and $1,500,000 for systems greater than 15 kW but smaller than 100 kW.  

Applications are completed online. There is a one-time application fee of $250 for systems up to and including 15 kW and $1000 for systems greater than 15 kW.  Approved projects must then execute the Reservation Agreement and pay the Reservation Guarantee or provide performance bond of $1000 for systems up to and including 15 kW and 1% of the installed cost for systems greater than 15 kW.  Systems should have approved interconnection permits from the Puerto Rico Electric Power Authority (PREPA). Once the system is installed, subsequent documentation is required to receive the incentive payment.

Additional requirements and application steps apply; refer to the Green Energy Fund regulations and the most recent version of the Tier I Reference Guide for additional details, both found on the program web site.