Enhanced Growth Credit Program

The Enhanced Growth Credit Program is available as an economic development incentive. It provides credit on power bills to qualifying companies that locate or expand in the Ripley Power and Light service area.  In today’s competitive climate, the program offers significant economic advantages. 

Requirements

A business qualifies if it belongs to one of the following SIC codes or meets the All Electric criteria and meets kilowatt demand requirements. 

SIC codes

Mining: 10 through 14
Manufacturing: 20 through 39
Bulk Transportation: 40, 42, 44, and 45

All Electric

All electric HVAC system, and
• At least 50% of the interior floor space must be heated or cooled by the HVAC, and
• At least 50% of the electric load is for interior lighting, cooking, and the HVAC system

Minimum Added Load Requirements

New and expanding firm power demand

Sic qualifier: 100 kW

All Electric qualifiers: 250 kW

Credit Options

Customers may choose one of the following options for receiving credit:

Eight-Year Declining Option

The monthly credit for the first 12-consecutive-month period will be $6 per kW.  The credit is reduced by $0.75 per 12-month period for seven additional years. The 8-year period begins with the first month in which the customer meets the minimum added load requirements.  Thereafter, credit is applied any month in which power usage reached the minimum added kW requirements. 

Four-Year Flat Option

The monthly credit for a four-year period, beginning with the date the first credit is received, is equal to $6 per kW.  The credit is applied in any month in which power usage reaches the minimum added kW requirements.