HB 1349 Summary

• Solar energy systems must have minimum 50% of materials manufactured in Florida or 80% in the United States (measured by cost) to qualify for sales tax exemption.

• Extends renewable energy technology investment tax credits through 2016 (from 2010) and increases annual limits to $25 million for hydrogen vehicles, $25 million for fuel cells, and $6 million for biodiesel/ethanol; adds new $250 million annual cap for solar energy systems with 50% cost credit.

• Extends Florida renewable energy production tax credit eligibility through June 30, 2017 (from 2010) and increases annual credit limit to $250 million (from $5 million).

• Removes renewable portfolio standard and renewable energy credit requirements; instead requires utilities to purchase 2% of retail revenues in renewable energy annually through competitive auctions with 20-30 year contracts, with minimum 25% allocated to solar energy.

• Exempts renewable energy facilities under 5 megawatts located on host consumer premises from utility regulation; exempts solar and biomass facilities of any size from power plant siting certification requirements.