Browse another municipality →
Tiverton
Town of Tiverton Zoning Ordinance
Read in full Download
§ XXIV-14

Financial surety

  • a. Project approval of any ground-mounted solar energy system in excess 2,000 square feet of solar lot coverage shall contain a condition of approval establishing a financial guarantee for the decommissioning and removal of the system. The planning board shall require the applicant to establish and maintain in full, a financial security instrument covering the ground-mounted SES from commencement of installation through its complete decommissioning. Such instrument may be an escrow account, or cash or surety bond. The security must be sufficient to cover the complete cost of removal in the event the town or its contractor must remove the solar energy system. Where a financial guarantee is required, no building permit for the SES shall be issued until the Town of Tiverton has received the financial surety.

  • b. The applicant shall submit a fully inclusive estimate of the costs associated with removal, prepared by a qualified engineer, licensed in the State of Rhode Island. The cost estimate shall include a mechanism for estimating the anticipated increased costs over the lifespan of the facility; with a minimum two and one-half percent estimated annual increase. The total amount of security shall be based on the estimated cost of removal of the SES at the end of the useful life. The planning board shall refer the applicant's cost estimate to one of the town's consulting professionals for review and comment. The owner shall be responsible for the cost of the review. After review of the applicant's estimate and the consultant's comments, the planning board shall have the authority to set an increase in the cost estimate.

  • c. The property owner/operator shall annually submit an affidavit to the administrative officer of the planning board certifying that the SES remains in operation and that the required financial security continues in force and shall remain in place until the system is removed. Proof of the financial security shall be attached to the affidavit. The town administrator and the administrative officer of the planning board shall be listed as a necessary notified interested entity upon the default, cancellation, or expiration of any security instrument.

  • d. Terms of the release of the financial security shall be specified at the time of approval and may include a partial holdback, in amount determined by the planning board, for period not to exceed two years post removal to ensure compliance with stormwater and revegetation requirements.

(Ord. of 11-14-22(2))