Act No. 7586 — An Act amending title 12 Virgin Islands Code, chapter 23, adding Subchapter VII, establishing the “Feed-In Tariff Act” and for other purpose
ACTNO, 7586 BILL NO. 30-0004 THIRTIETH LEGISLATURE OF THE VIRGIN ISLANDS Regular Session 2014 An Act amending title 12 Virgin Islands Code, chapter 23, adding Subchapter VII, establishing the “Feed-In Tariff Act” and for other purposes --0--- Be it enacted by the Legislature of the Virgin Islands: SECTION 1. Findings. The Legislature finds and declares that: (1) At present the Virgin Islands has a total dependence on fuel oil for electrical power generation. (2) The cost of oil has increased drastically worldwide since July 2008; increased costs of oil result in increased costs for electrical power for the Territory’s residents and businesses. (3) In accordance with title 12 VIC section 1152(a), the Territory must generate at least 20% of its electrical power through renewable energy technologies by January 1, 2015; 25% by January 1, 2020 and 30% by January 1, 2025, and the percentage thereafter must increase until a majority of the generating capacity of the Virgin Islands Water and Power; Authority is derived from renewable or alternative energy technologies. …
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