The bill amends the General Laws in Chapter 39-26.4 entitled "Net Metering" to introduce and define a "Community remote net-metering system," which is 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. It specifies that no more than 50% of the credits can be allocated to one recipient and at least 50% must be distributed among the remaining recipients. The bill also expands the types of entities that can own or operate an eligible net-metering system, including public entities, educational institutions, hospitals, nonprofits, or multi-municipal collaboratives, and sets a future date of July 1, 2060, for the interconnection requirement. It defines various terms related to net metering and sets a maximum allowable capacity for eligible net-metering systems at 10 megawatts, with a maximum aggregate capacity of 275 MWac for ground-mounted systems.

The bill also outlines the procedures for net-metering systems, including the crediting of electricity generated and the payment for excess generation. It prohibits additional charges to offset net-metering credits and exempts customer accounts associated with eligible net-metering systems from back-up or standby rates. The Rhode Island office of energy resources is tasked with redesigning the community solar remote net metering program to include a commercial or industrial anchor tenant and allocate at least 50% to low- and moderate-income residents or those in disadvantaged and environmental justice communities, with a cap of 20 megawatts per year for two years. Additionally, the bill amends sections 39-26.6-1 and 39-26.6-3 of the General Laws in Chapter 39-26.6 entitled "The Renewable Energy Growth Program," clarifying the purpose of the chapter, updating definitions, and encouraging renewable energy projects in previously disturbed areas. It redefines "core forest" and sets conditions for a facility to be considered new, with the bill set to take effect upon passage.