Sec. 3. Shared savings incentive for grid-enhancing technologies
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In this section, the term developer , with respect to grid-enhancing technology, means the entity that pays to install the grid-enhancing technology. Not later than July 1, 2025, the Commission shall promulgate a final rule to implement section 219(b)(3) of the Federal Power Act ( 16 U.S.C. 824s(b)(3) ) by providing a shared savings incentive that returns a portion of the savings attributable to an investment in grid-enhancing technology to the developer of that grid-enhancing technology, in accordance with this section.
The Commission shall determine the percentage of savings attributable to an investment in grid-enhancing technology that can be returned to the developer of that grid-enhancing technology pursuant to the shared savings incentive established under subsection (b), subject to the condition that the percentage is not less than 10 percent and not more than 25 percent. The shared savings incentive established under subsection
(b)shall return a percentage, determined in accordance with paragraph (1), of the applicable savings to the developer of the applicable grid-enhancing technology over a period of 3 years. Subject to subsection (e), the shared savings incentive established under subsection
(b)shall apply with respect to— any developer, with respect to the investment of that developer in grid-enhancing technology that is installed as described in section 2(2)(B); and any grid-enhancing technology, including— grid-enhancing technology that relates to new transmission facilities or technologies; and grid-enhancing technology that relates to existing transmission facilities or technologies. The shared savings incentive established under subsection
(b)shall apply with respect to an investment in grid-enhancing technology only if the expected savings attributable to the investment over the 3-year period described in subsection (c)(2), as determined by the Commission, are at least 4 times the cost of the investment. The Commission shall determine how to quantify the cost of an investment and the expected savings attributable to an investment for purposes of subparagraph (A). For purposes of subparagraph (A), the cost of an investment may include any costs associated with the permitting, installation, or purchase of the applicable grid-enhancing technology. The shared savings incentive established under subsection
(b)may not be applied with respect to grid-enhancing technology that is already installed as of the date of enactment of this Act. The Commission shall determine appropriate consumer protections for the shared savings incentive established under subsection (b).
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Sec. 3
Shared savings incentive for grid-enhancing technologies
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