The bill amends sections of the General Laws in Chapter 39-26.4, focusing on "Net Metering" to enhance access and efficiency for various customer types while promoting renewable energy generation. Key insertions include the definition of a "community remote net-metering system," which allows for the allocation of net-metering credits to low- or moderate-income housing and other eligible recipients, ensuring that no more than 50% of the credits are allocated to a single recipient. The bill also clarifies the definitions of "eligible credit recipient" and "eligible net-metering system," establishing criteria for low- or moderate-income housing developments and specifying that systems over 25 kW must produce electricity equal to or less than the average annual consumption of the site.

Additionally, the bill modifies how excess renewable net-metering credits are calculated, replacing the previous method with a calculation based on the ISO-New England energy clearing price. It introduces provisions for billing plans that even out monthly billings over a twelve-month period and allows customers to cash out remaining credit balances after annual reconciliation. Significant changes include the deletion of the year "2050" and its replacement with "2060" regarding certain net-metering systems, as well as setting a maximum capacity for eligible net-metering systems at 10 megawatts and a cap of 275 megawatts for ground-mounted systems. Overall, the bill aims to streamline net metering administration and stabilize billing for customers while ensuring equitable access to renewable energy initiatives.