FUELCELL ENERGY INC.: Applauds the Passage of Senate Bill 9 in Connecticut

Fuelcell Energy, Inc. issued the following announcement on May 9.

FuelCell Energy, Inc. (Nasdaq:FCEL), a global leader in delivering clean, innovative and affordable fuel cell solutions for the supply, recovery and storage of energy, applauds the passage of Senate Bill 9, An Act Concerning Connecticut’s Energy Future. This bill includes several key provisions and amendments important to the vitality of the fuel cell industry in Connecticut. The bill expands the megawatts available under Public Act 17-144 (An Act Promoting the Use of Fuel Cells for Electric Distribution System Benefits and Reliability and Amending Various Energy-Related Programs and Requirements) from up to 4% of the state’s load to up to 6% of the state’s load. The Connecticut Department of Energy and Environmental Protection (DEEP) is currently evaluating proposals submitted in conjunction with a RFP promulgated under Public Act 17-144.

  • Increases the DEEP’s procurement authority from up to 4% of the State’s load under PA 17-144 to 6%
  • Creates room for fuel cells to be selected in DEEP’s clean energy solicitation alongside other competitive technologies
  • Increases the State’s Renewable Portfolio Standard to 40 percent by 2030
  • Demonstrates Connecticut Bi-Partisan Legislative support for the fuel cell industry

“This bi-partisan bill is a smart investment for Connecticut’s economy and environment,” said Chip Bottone, Chief Executive Officer, FuelCell Energy, Inc. “The passage of Senate Bill 9 will bolster Connecticut's home-grown fuel cell industry that provides in-state benefits for CT residents including tax revenue, job creation, enhancement of local power reliability and resiliency and urban brownfield redevelopment.”

The bill also expands Connecticut’s renewable portfolio standard target to 40 percent by 2030. The renewable portfolio standard requires that electric suppliers sell at least a specified percentage of energy that is classified as being generated from renewable sources. With high availability and capacity factors, fuel cell power plants make meaningful contributions to renewable portfolio standard targets. Fuel cells, a Class I clean energy generator in Connecticut, use chemistry to convert a fuel source into electricity and heat in a highly efficient process that emits virtually no pollutants, as the fuel is not burned. The combination of near-zero pollutants, modest land-use needs, and quiet operating nature of these stationary fuel cell power plants facilitates installation in urban locations where the power is used. With higher electrical efficiency, SureSource™ power plants drive better economics and environmental stewardship, supporting both social responsibility goals and public policy objectives.

SureSource™ power plants solve energy, environmental and business-related power generation challenges by providing ultra-clean, efficient and reliable distributed power generation. The fuel cells combine a fuel such as renewable biogas, directed biogas or clean natural gas with oxygen from the ambient air to efficiently produce ultra-clean electricity and usable high quality heat via an electrochemical process. Customers benefit with operating cost reductions delivered in a manner that supports sustainability goals and enhances power reliability.

Original source can be found here.

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