DE SB265

Authorizes the Director of the Division of Energy and Climate of DNREC to freeze renewable energy portfolio standards (RPS) if annual compliance costs exceed 1% for overall renewable energy or 0.5% for solar energy of total retail electricity costs.

Requires the Director to lift any freeze if compliance costs are expected to fall below the established cost cap thresholds, preventing permanent suspension of renewable energy requirements.

Reduces cost cap thresholds from the previous 3% (renewable energy) and 1% (solar) to 1% and 0.5% respectively to measure annual increases in compliance costs.

Specifies that compliance costs include ratepayer-funded solar rebate programs, renewable energy credits (RECs and SRECs), and alternative compliance payments made by regulated utilities.

Assigns DNREC authority to adopt rules and regulations for freeze procedures and procedures, while the Public Service Commission implements decisions regarding alternative compliance payment adjustments for regulated utilities; effective 90 days after enactment.