FINANCIAL ASSURANCE FOR SOLAR & WIND

HB 281 requires owners of solar and wind energy facilities to provide financial assurance (like bonds or insurance) totaling at least $250,000 per facility to cover future decommissioning costs. This applies to all new facilities starting July 1, 2026, and existing facilities by January 1, 2028. The bill creates a Solar and Wind Decommissioning Fund, which collects forfeited financial assurance if owners fail to comply or if decommissioning costs exceed the provided amount. The fund is used by the state to cover cleanup costs when facilities are shut down, ensuring sites are properly remediated without relying on taxpayer funds.