The bill proposes a comprehensive overhaul of the Renewable Energy Growth Program by completely repealing Chapter 39-26.6, which previously aimed to promote renewable energy generation and reduce carbon emissions. The existing legal language detailing the program's purpose is entirely removed, and new sections are introduced to establish a restructured renewable energy growth program that will not operate as a tariff-based financing program. Key insertions include definitions for various project types and the establishment of a new enrollment program for small- and medium-scale solar projects, which streamlines the application process. The bill also introduces provisions for the allocation of bill credits for shared solar facilities and emphasizes the importance of maintaining solar classifications for the first two program years.

Additionally, the bill makes significant amendments to the management and implementation of distributed-generation projects, including the establishment of a distributed-generation board with expanded responsibilities. It introduces new sections that clarify the bidding and incentive award processes, allowing for more flexibility in project applications and the allocation of megawatts. The bill also deletes previous provisions that restricted the allocation of megawatts and the authority of the board, thereby streamlining the regulatory framework. Overall, the bill aims to enhance the efficiency and effectiveness of renewable energy initiatives, promote investment in clean energy, and facilitate the growth of distributed-generation resources in the state, with the act set to take effect on January 1, 2026.