The bill amends Section 39-26.4-2 of the General Laws in Chapter 39-26.4, titled "Net Metering," to modify the definition of "excess renewable net-metering credit." Specifically, it replaces the reference to the electric distribution company's avoided cost rate with a new "wholesale rate" for the calculation of these credits. The bill also introduces new definitions related to net metering systems, including terms such as "community remote net-metering system," "core forest," "eligible credit recipient," and "eligible net-metering resource." It outlines the operational conditions for these systems and specifies the types of entities permitted to own them. Additionally, the bill clarifies that third parties involved in financing arrangements for net-metering systems are not classified as public utilities. The act emphasizes the importance of ensuring that energy generated by eligible net-metering systems is consumed on-site or by designated accounts. This act will take effect immediately upon passage.

Statutes affected:
5819: 39-26.4-2