The bill introduces a new chapter, Chapter 36, to Title 39 of the General Laws, establishing a moratorium on net metering contracts, long-term contracts for purchasing solar or wind energy, and subsidies for heat pumps in the State of Rhode Island. It prohibits the renewal or entry into any net metering contracts regulated by state law, disallows the state from entering into long-term contracts for solar or wind energy with any energy provider, 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 the current practices surrounding these energy sources and technologies. 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.