CO HB1137

Requires electric utilities to purchase community solar garden output through net metering credits applied to subscriber bills rather than alternative payment methods.

Establishes two calculation methods for net metering credits: annual adjustments using the current retail rate minus reasonable charges, and fixed credits using the rate at the time of subscriber enrollment minus reasonable charges.

Specifies that fixed bill credits cannot be applied toward rate rider charges for clean energy technologies, low-income bill assistance, or other public benefits unless those costs are included in the reasonable charge determined by the commission.

Requires the Public Utilities Commission to adopt rules by June 30, 2024 implementing the fixed bill credit system and considering how the credit value changes over time through rate adjustments or other mechanisms.

Allows utilities to recover costs for implementing and maintaining billing systems necessary to administer the various bill credit processes.