In our January 2022 newsletter, we discussed at length the passage of HB315, which increased the New Hampshire net metering limit from 1 MW to 5 MW, and we outlined the benefits it holds for New Hampshire energy users.
Highlights from our January 2022 Article:
- HB315 specifically identifies New Hampshire Schools, Towns, and Counties as those eligible to group net meter with above 1MW generators.
- It allows these users to share in the revenue stream for doing so. These revenues can be utilized to offset utility costs, enhance sustainability measures, or achieve other goals that a town or school district may have.
- This is a very limited opportunity, allowing municipalities and schools to sign on now and start receiving revenues in the coming months.
Current Updates on the New Hampshire Hydro Market
The Freedom Energy team was selected by Central Rivers Power to exclusively administer the offtake portfolio for approximately 45 million kilowatt-hours of qualifying hydroelectric generation, all of which must be offset by the user base mentioned above. We are pleased to announce that two of our four qualifying dams, located in Gorham NH and Jackman NH, have been approved by the New Hampshire Department of Energy Resources (DOER) to participate in group net metering. These dams generate approximately 20 million kWh annually and are expected to deliver over $500,000 to participating group members over their five-year contract term. We expect to have our final two dams approved in short order and hope to add additional hydro assets to our portfolio in the coming months to deliver even more benefit to cities, towns, and schools throughout New Hampshire.
Freedom Energy continues to see significant adoption and growth within our group net metering pool but still has room for further customer enrollment in the municipal and SAU space in Eversource and Unitil territory. We are eager to speak with additional qualifying users to deliver revenues while supporting local renewable energy and encourage you to reach out to a team member to inquire about your eligibility to participate. The Freedom Energy team is prepared to assist New Hampshire municipalities and school districts in developing energy plans that incorporate these revenues into a procurement strategy aimed at cost savings, budget security, and sustainability.