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 excess renewable net-metering credits. This change aims to streamline the credit calculation process for excess energy produced by net-metering systems.

The bill also introduces new definitions related to net metering systems, including terms that facilitate the allocation of net-metering credits to low- or moderate-income housing and other eligible accounts. Additionally, it clarifies that third parties involved in financing arrangements for net-metering systems are not classified as public utilities.

The act will take effect immediately upon passage.

Statutes affected:
890: 39-26.4-2