Item 4- RCA: Comm & MF Solar Incentives — original pdf

Backup

..De Posting Language ..Title Authorize issuance of commercial and multifamily solar incentives during Fiscal Year 2024-2025, in an amount not to exceed $4,000,000 for customer-sited commercial solar installations and $3,000,000 for customer-sited multifamily installations, for a total combined budget amount of $7,000,000. Lead Department Austin Energy Fiscal Note Funding in the amount of $7,000,000 is available in the Fiscal Year 2024-2025 Austin Energy Operating Budget. Prior Council Action: For More Information: Amy Everhart, Director, Local Government Relations (512) 322-6087; Tim Harvey, Manager, Customer Renewable Solutions (512) 587-2138 Council Committee, Boards and Commission Action: Sept 9, 2024 - To be reviewed by the Electric Utility Commission Sept 17, 2024 - To be reviewed by the Resource Management Commission. Additional Backup Information: The purpose of the Austin Energy solar incentives is to expand adoption of customer-sited solar. The Performance-Based Incentive (PBI) solar program offers commercial customers payments based on the metered solar production of their approved PV system for the first 5 years of operation. The Austin Energy Solar Capacity-Based Incentive (CBI) Programs support solar installations via a one-time, upfront rebate payment. These programs advance the stated goals of expanding locally-sited solar, carbon reduction, and resiliency. The authorization of aggregate authority for the issuance of solar incentives will allow Austin Energy to continue to issue solar incentives to multifamily, commercial, and small business customers during Fiscal Year 2024-2025 (FY2025) for customer-sited solar installations in accordance with program guidelines and up to a combined amount of $7,000,000. This aggregate rebate approval request reflects our continued commitment to be responsive and flexible to customer needs by reducing the wait time needed to apply. Austin Energy staff will provide the Resource Management Commission with a monthly report that summarizes activity for the solar commercial and solar multifamily programs (applications in queue, installations in progress, projects completed). For all projects that will exceed the FY2025 City Manager’s spending authority in rebate payments, the report will also include measures installed, expected savings, and other relevant data.