jan-2018

16 17 S unnova EnergyCorporation,a leading resi- dential solar service provider,has called on members of Congress to aid in power resto- ration efforts for the people of Puerto Rico,45 percent of which still lacks electricitymore than three months after Hurricanes Irma andMariamade landfall. Sunnova,the largest residential solar service provid- er in Puerto Rico,has beenworking alongside a num- ber of suppliers,companies,and organizations to push for policy solutions and aidmeasures in the upcoming disaster supplemental that would support the con- struction of amore resilient,reliable power system in Puerto Rico. The companybelieves that a viable policy solution would be tomodify the existing Investment TaxCredit (ITC) into a cash grant for disaster-hit US territories. Such a solutionwould leverage the investment of private capital into amarket that desperatelyneeds it, while at the same time strengthening the island’s en- ergy infrastructure and helping prepare it for the next inevitable storm. “Sunnova supports including a provision in the di- saster supplemental that would authorize a cash grant in lieu of the ITCfor U.S.territories recovering from disasters,”said Sunnova EnergyCorporation’s Chief ExecutiveOfficer,William J.(John) Berger.“This would OPENING LINES WITH HALF OF PUERTO RICO STILLWITHOUT POWER, SOLAR PROVIDER LEADS CALL FOR IMMEDIATE ACTION spur the development and construction of resilient, renewable energyoptions for businesses and residents in Puerto Rico and the USVI.” Berger added,“We believe this proposed solution is paramount to the future reliabilityof Puerto Rico’s energy infrastructure.As Congress continues its work on the disaster supplemental,it is imperative that they remember that Puerto Rico’s energy recovery strategies need to be reliable,flexible,affordable,and resilient— and utilize the energy sources that aremost impactful for the island.” The ITCgrant solution includes the following provi- sions: n The Investment TaxCredit would be replaced bya cash grant n The cash grant optionwill be limited toUS territo- ries recovering fromdisasters n This provisionwill sunset in three years n The costs shall be limited to cost per MWper Trea- suryguidance or cost paid to a third party to construct n The paperwork shall be limited for grants under $20,000 n The grant would be contingent on service date, not“placed in service”date,due to difficulties connect- ing to the grid right now