Electric utilities; renewable energy portfolio standard program requirements.
What changed between versions
Added a new section establishing pilot programs for third-party power purchase agreements, allowing eligible customers to finance their own solar or wind generation through loans from third parties.
Increased the minimum size threshold for small-scale solar and wind projects eligible for third-party financing from 1 megawatt to 3 megawatts.
Added a requirement that 35% of solar capacity built on previously developed project sites must be procured from non-utility owners to encourage community solar participation.
Updated the deficiency payment penalty for small renewable projects (under 3 megawatts) from $75 per megawatt-hour to $75 per megawatt-hour for resources of 3 megawatts and lower.
Increased the minimum amount of renewable capacity that must be placed on previously developed project sites from 200 megawatts to 600 megawatts for Phase II utilities.
Adjusted the compliance year for the requirement that 75% of renewable energy certificates come from in-state sources from 2028 to 2027.