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 be allocated to cover administrative costs of the Department of Energy, capped at $1,000,000 annually. After these costs are met, the remaining funds will be directed to support thermal and electrical renewable energy initiatives, while explicitly prohibiting the use of any remaining moneys for individual residential solar initiatives. Additionally, any funds left over after these allocations will be transferred to the general fund.

The bill also includes provisions for the management and oversight of the Renewable Energy Fund, ensuring that all initiatives funded are subject to audits by the Department of Energy. It clarifies that Class II moneys will primarily support solar energy technologies in New Hampshire, and any new employee positions related to the fund must receive approval from the fiscal committee of the general court. The act is set to apply to funds collected from July 1, 2025, until June 30, 2027, and will take effect upon passage.

Statutes affected:
SB599 text: 362-F:10