(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;
(2) Authorize the Commission to determine and set the rates at which energy shall be purchased from qualified owners under the power purchase agreements;
(3) Protect against rising fuel costs;
(4) Reduce residential and business consumers’ costs for electricity in the Territory;
(5) Stabilize the Territory’s marketplace for renewable energy;
(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;
(7) Positively impact job creation and economic development in the Territory by allowing FIT participation from all renewable energy technologies;
(8) Protect the Territory’s environment and natural resources by reducing greenhouse gas emissions and providing clean air benefits; and
(9) Place the Territory in a cadre of advanced renewable energy innovators.