This bill mandates that the Department of Energy conduct a study to explore the potential advantages, risks, and important factors involved in creating a framework for electricity microgrids within the state. The study must begin within 120 days of the bill's effective date and will involve consultation with various stakeholders, including electric distribution utilities, microgrid technology companies, distributed generation project developers, high-density load businesses, municipalities, state universities, and other relevant entities.

The investigative proceeding by the Department of Energy will focus on several key areas: defining microgrids and their technical requirements, examining utility partnerships for microgrid development, establishing evaluation criteria for microgrid pilot projects, addressing interconnection with the main power grid, setting cybersecurity and physical security standards, assessing the benefits of microgrids for grid resilience and energy costs, considering the role of microgrids in economic growth and clean energy, identifying regulatory barriers, and any other relevant issues. The department is required to report its findings and recommendations to the legislature within one year, providing guidance for developing a microgrid pilot program. The bill is set to take effect 60 days after its passage, with an approved date of May 14, 2024, and an effective date of July 13, 2024. There are no specific insertions or deletions from current law indicated in the provided text.