The bill mandates the Department of Energy to begin a proceeding within 90 days of the act's effective date to investigate the potential benefits, risks, and key considerations of supporting clean or non-carbon emitting power generation in New Hampshire. The focus of the investigation will be on customer costs and the support of the state’s economic growth. The department is required to consult with various stakeholders, including power generators, utilities, municipalities, and others. The investigation will cover a range of topics such as definitions of clean energy, competitive procurement benefits and risks, reliability and cost-effectiveness of clean energy sources, approaches taken by other states, the role of clean energy in economic growth and innovation, and security standards for clean energy. The department must report its findings and recommendations to the legislature within one year of the study's initiation.

The fiscal note attached to the bill indicates that there is no direct fiscal impact on state, county, or local revenue or expenditures. However, the Department of Energy estimates that the cost of the investigation could exceed $250,000, primarily for consultant fees. The bill does not provide funding to cover these estimated expenditures, nor does it authorize new positions for implementation. Some issues to be studied may fall outside the Department’s regulation of electric utilities, and existing funding sources may not cover the full cost. The Public Utilities Commission has stated that the bill would have no impact on its budget.