In providing financial incentives pursuant to this chapter, the commission shall give preference to an eligible project that does one or more of the following:

(a) Increases the reliability and resiliency of the electrical grid.

(b) Adds electrical grid services when the electrical grid is stressed or anticipating pending energy challenges.

(c) Increases the use of renewable energy and reduces the impact of climate change on the electrical grid or on connected facilities or communities, including by improving air quality, reducing emissions of greenhouse gases, or providing under-resourced communities with increased reliability and resiliency.

(d) Lowers energy costs and provides employment opportunities for residents of under-resourced communities.

(e) Interconnects to the electrical grid and is commercially operational by 2028.

(Added by Stats. 2022, Ch. 61, Sec. 5. (AB 205) Effective June 30, 2022.)