This bill amends New Hampshire's minimum electric renewable portfolio standards (RPS) by introducing several key changes. Notably, it exempts wind energy from government procurement mandates and repeals Class II sources, which previously encompassed certain renewable energy types. The bill modifies the percentage requirements for electricity providers, increasing Class I standards annually until 2025, after which they will stabilize at 15%. Additionally, a new percentage for Class I sources producing useful thermal energy will be set at 1.7% starting August 1, 2025. The bill also establishes a renewable energy fund to support various initiatives while ensuring proper management and auditing of the funds.

Furthermore, the bill proposes a 20% reduction in RPS requirements for each class beginning in 2025, which will decrease the number of Renewable Energy Certificates (RECs) and Alternative Compliance Payments (ACPs) needed for compliance. This reduction is expected to lower compliance costs for ratepayers by approximately $6,810,000 annually from FY 2026 to FY 2030, while also leading to a decline in REC prices and a decrease in ACP revenue by $1,174,000 each year, ultimately phasing out by FY 2030. The bill anticipates that these changes will result in reduced state expenditures on programs funded by the Renewable Energy Fund, potentially affecting staffing and services, while saving the state around $68,100 in electricity expenditures in FY 2026, with further savings in subsequent years.

Statutes affected:
Introduced: 362-F:5
As Amended by the House: 362-F:4, 362-F:3, 362-F:2, 362-F:10, 362-F:6