This bill dedicates $3,000,000 from the energy efficiency fund to the Department of Energy to develop a pilot program for a "cash on the hood" program for point-of-sale electric vehicle rebates to buyers. The bill also amends RSA 125-O:23, II to specify that $3,000,000 from the proceeds of allowance sales in excess of the threshold price of $1 shall be transferred to the Department of Energy for the pilot program, while all other amounts received shall be rebated to retail electric ratepayers on a per-kilowatt-hour basis.

The fiscal note states that there would be no change in revenue received by the state, but the expenditure of the revenue would change. The Department of Energy estimates that the state expenditures for the pilot program would be $3,000,000, which would be offset by a decrease in spending on ratepayer rebates. This would result in an increase in the cost of electricity by $3,000,000 statewide. The impact on state electricity expenditures is estimated to be about $30,000. There would be no impact on county or local revenue.

Statutes affected:
Introduced: 125-O:23