The bill amends the General Laws in Chapter 39-26.4, which deals with net metering, by introducing new definitions and expanding existing ones. It defines a "Community remote net-metering system" as a facility that generates electricity using an eligible net-metering resource and allocates credits to accounts associated with low- or moderate-income housing or to at least three eligible credit-recipient customer accounts, with no more than 50% of the credits going to one recipient. It also removes the requirement that eligible net-metering systems be designed to produce no more than the site's annual energy usage, as measured by a three-year average, and clarifies that these systems can be owned by the customer of record or a third party, including public entities, educational institutions, hospitals, nonprofits, or multi-municipal collaboratives.

The bill sets a maximum capacity for eligible net-metering systems at 10 MW and for community remote net-metering systems at 30 MW until December 31, 2018, with the possibility of expansion. It details the billing and credit system for net-metering customers, including the option for electric distribution companies to estimate production and consumption over a twelve-month period. It also specifies how electricity generated by net-metering systems serving multi-unit properties should be allocated and allows property owners with eligible systems and a master meter to allocate excess credits to any meter on the property. The bill deletes previous language concerning the three-year average annual consumption requirement for net-metering systems and takes effect upon passage.