95- 648 C.M.R. ch. 103, § 2 - DEFINITIONS

1. Board. "Board" shall mean the Efficiency Maine Trust Board established under 35A M.R.S.A. § 10103 and 5 M.R.S.A. §12004-G(10-c).

2. Cost-Effective Renewable Energy Technologies. "Cost-Effective Renewable Energy Technologies" means a Renewable Energy Installation where the Net Present Cost over the Estimated Useful Life of the installation is exceeded by the expected annual savings to the owner providing Simple Payback. For the purposes of evaluating the program, the cost of the incentives plus program delivery shall not exceed the Net Present Benefits.

3. Director. "Director" means the Executive Director of Efficiency Maine Trust, appointed pursuant to 35-A M.R.S.A. §10103.

4. Energy Savings Improvement. "Energy Savings Improvement" means an improvement to Qualifying Property that is new and permanently affixed to Qualifying Property and that:

A. Will result in increased energy efficiency and reduced energy use and:

(1) Meets or exceeds applicable United States Environmental Protection Agency and United States Department of Energy Star program or similar energy efficiency standards established or approved by the Trust;

or

(2) Involves weatherization, including but not limited to, an energy audit, air sealing, insulating, and other energy efficiency improvements and test out, for residential property in a manner approved by the Trust;

or

B. Involves a Renewable Energy Installation system that meets or exceeds standards established or approved by the Trust.

5. Estimated Useful Life. "Estimated Useful Life" means longest useful life of any Energy Savings Improvement as determined by the Trust and as provided by DOE National Renewable Energy Laboratory (NREL) or other nationally recognized standard.

6. Net Present Benefit. "Net Present Benefit" means the present value of all avoided costs over the Estimated Useful Life of a project.

7. Net Present Cost. "Net Present Cost" means the present value of all project costs inclusive of any rebate or tax incentives due to the owner.

8. Renewable Energy Installer. "Renewable Energy Installer" means a Registered Vendor who meets any certification or similar requirements as specified by the Trust from time to time for specified Renewable Energy Installations.

9. Renewable Energy Installation. "Renewable Energy Installation" means a fixture, product, system, device or interacting group of devices, that produces energy or heat from renewable sources, including, but not limited to, photovoltaic systems, solar thermal systems, biomass systems, landfill gas to energy systems, geothermal systems, wind systems, wood pellet systems and any other systems eligible for funding under federal Qualified Energy Conservation Bonds or federal Clean Renewable Energy Bonds.

10. Simple Payback. "Simple Payback" is that the amount of time it will take to recover the initial investment in energy savings will be less than the Expected Useful Life of the installation. Calculated by dividing the Net Present Cost by the expected annual energy cost savings and comparing to the Expected Useful Life of the installed measures.

11. Trust. "Trust" means the Efficiency Maine Trust established in 35-A M.R.S.A. §10103.

Notes

95- 648 C.M.R. ch. 103, § 2