FL S1186

Eliminates the requirement for the Public Service Commission to adopt renewable portfolio standards (RPS) rules and replaces it with provisions allowing providers to build, convert, or purchase renewable energy resources with full cost recovery through the environmental cost-recovery clause.

Permits providers to exceed fully avoided cost limitations for renewable energy by up to 2 percent (2010-2011), 3 percent (2012), or 4 percent (2013 and beyond) of their 2009 retail electricity revenue, with costs averaged over the economic life of resources.

Requires renewable energy sellers to surrender all renewable attributes to providers purchasing power above avoided cost limitations.

Provides enhanced cost recovery including a 50 basis point rate of return incentive for renewable energy projects where a majority of energy-producing components are manufactured or assembled in Florida.

Expands the definition of "environmental laws or regulations" and "environmental compliance costs" to include compliance with any federal or state law requiring utilities to provide renewable energy.