This bill amends the existing law regarding the Renewable Energy Fund by establishing a priority for the use of remaining moneys from electricity provider payments. Specifically, it mandates that these funds first cover administrative costs for the Department of Energy, capped at $1,000,000, before allocating the remainder to support thermal and electrical renewable energy initiatives. The bill explicitly prohibits the use of these funds for individual residential solar initiatives. Additionally, any leftover funds after these allocations will be transferred to the general fund.

The bill modifies the language in RSA 362-F:10, I, by inserting provisions that clarify the order of fund usage and the limitations on funding individual residential solar projects. The changes include the insertion of phrases such as "first be used by the department of energy for administrative costs" and "shall not be used to support individual residential solar initiatives." The bill is designed to take effect upon passage and will apply to funds collected from July 1, 2025, to June 30, 2027. According to the fiscal note, the bill is expected to have no additional fiscal impact, as the budget for FY 2026 and FY 2027 already accounted for the proposed allocation structure.

Statutes affected:
SB599 text: 362-F:10