FL S2404

Establishes a monthly systems benefits charge of 25 cents collected by electric utilities from residential, commercial, and industrial customers beginning January 1, 2011, with funds deposited into the Sustainable and Renewable Energy Policy Trust Fund.

Creates a direct-support organization for the Florida Energy Office governed by a 9-member board of directors appointed by state officials, with authority to distribute collected funds to renewable energy projects, solar rebate backlogs, and energy conservation initiatives.

Amends renewable energy purchase contracts to require utilities to base payment on equivalent cost-recovery rates for clean energy projects rather than full avoided costs.

Extends the Solar Energy System Incentives Program expiration date from June 30, 2010 to June 30, 2015 and revises solar photovoltaic rebate amounts to $2.50 per watt for year one, $2 per watt for years two and three, and $1.50 per watt for subsequent years.

Requires the direct-support organization to undergo annual financial audits and prioritize funding for solar rebate backlogs, innovation-to-market projects, and low-income energy efficiency projects.