The proposed bill amends Title 39 of the General Laws by introducing a new chapter, Chapter 36, which establishes a moratorium on net metering, long-term contracts, and subsidies for heat pumps. Specifically, it prohibits the renewal or entry into any net metering contracts regulated by state law, disallows the State of Rhode Island from entering into long-term contracts for purchasing solar or wind energy from energy providers, and restricts the use of state funds for subsidizing the purchase or installation of heat pumps by any utility or governmental agency.

The moratorium is set to take effect on January 1, 2026, and aims to halt these specific energy-related agreements and financial supports, thereby impacting the state's renewable energy initiatives and the adoption of heat pump technology. The bill includes definitions for key terms such as "heat pump," "long-term contract," "net metering," "solar energy," and "wind energy" to clarify the scope of the moratorium.