1162

The purpose of the Tariff established in section 1164 is to:\n(1) Allow all Virgin Islanders the opportunity to participate in renewable energy generation by requiring that the Utility purchase such energy at a fair and reasonable price;\n(2) Authorize the Commission to determine and set the rates at which energy shall be purchased from qualified owners under the power purchase agreements;\n(3) Protect against rising fuel costs;\n(4) Reduce residential and business consumers’ costs for electricity in the Territory;\n(5) Stabilize the Territory’s marketplace for renewable energy;\n(6) Assist the Territory in achieving its goal of 20% renewable energy portfolio by Year 2015 and increasing the percentage thereafter until a majority of the Utility’s generating capacity is derived from renewable or alternative energy technologies, thereby reducing dependency on fossil fuel;\n(7) Positively impact job creation and economic development in the Territory by allowing FIT participation from all renewable energy technologies;\n(8) Protect the Territory’s environment and natural resources by reducing greenhouse gas emissions and providing clean air benefits; and\n(9) Place the Territory in a

renewable energy technologies;\n(8) Protect the Territory’s environment and natural resources by reducing greenhouse gas emissions and providing clean air benefits; and\n(9) Place the Territory in a cadre of advanced renewable energy innovators.