This bill amends RSA 362-F:10 to allow for alternative compliance payments (ACPs) made to the renewable energy fund to be refunded to ratepayers on a per-kilowatt-hour basis. Specifically, the bill inserts language stating that any remaining moneys paid into the fund shall be rebated to ratepayers, replacing the previous stipulation that these funds be used to support thermal and electrical renewable energy initiatives. The bill also establishes a timeline for the implementation of these changes, with the new provisions taking effect on July 1, 2026, while a subsequent amendment will take effect on July 1, 2027.

The fiscal impact of this bill is significant, as it is projected to decrease revenue for the renewable energy fund, which has historically relied on ACPs as its primary funding source. The Department of Energy estimates that setting ACP rates to $0 will collapse the renewable energy certificate (REC) market, leading to a loss of approximately $6.7 million in annual revenue by FY 2028. This would result in the cessation of various renewable energy programs funded by the REF, including rebate and grant programs, unless alternative funding is secured through future legislative appropriations. Additionally, the elimination of REF revenue could lead to the loss of nine full-time positions currently supported by the fund, further impacting the state's renewable energy initiatives.

Statutes affected:
Introduced: 362-F:10
As Amended by the House: 362-F:10
HB1542 text: 362-F:10