HB 5362 - Renewable Energy Summary

• Requires minimum 30 megawatts of new residential solar photovoltaic installations by December 31, 2021, funded through performance-based incentives or expected performance-based buydowns from the Renewable Energy Investment Fund, with funding capped at one-third of annual surcharge collections.

• Mandates electric distribution companies solicit long-term power purchase contracts (minimum 15 years) for nonresidential customer-sited solar projects under 2,000 kilowatts, with aggregate procurement of at least 4.35 million solar renewable energy credits and tiered procurement deadlines through July 1, 2016.

• Establishes production-based tariffs for Class I solar projects of 1-7.5 megawatts with 50-megawatt aggregate cap, allowing electric distribution companies to own and operate up to one-third of their proportional share over a minimum three-year phase-in.

• Requires solar feasibility survey of state-owned facilities with 50+ kilowatt loads and directs Office of Policy and Management to issue requests for proposals for solar deployment at state facilities.

• Caps net annual ratepayer costs at 0.5% of retail electricity sales revenue (2011-2013), 0.75% (2013-2015), and 1% thereafter, with authority to implement cost mitigation measures if exceeded.