The bill amends Section 39-26.4-2 of the General Laws in Chapter 39-26.4, titled "Net Metering," to change the calculation of excess renewable net-metering credits. Specifically, it replaces the current reference to the "electric distribution company’s avoided cost rate" with a "wholesale rate" for determining these credits. The bill introduces new definitions and clarifies existing terms related to net metering systems. It emphasizes that energy generated must be either consumed on-site or credited appropriately to eligible accounts.

Significant deletions from current law include the removal of references to the "electric distribution company’s last resort service kilowatt hour (KWh) charge for the rate class." The bill also clarifies definitions for terms such as "farm," "hospital," and "public entity," and establishes guidelines for net-metering financing arrangements, specifying that third parties involved in financing are not classified as public utilities. The act is set to take effect immediately upon passage.

Statutes affected:
5819: 39-26.4-2