MN SF2181

Prairie Island nuclear plant owner must transfer $500,000 annually per dry cask during operation and $7,500,000 annually when plant is not operating (if ordered by commission) to renewable development account.

Monticello nuclear plant owner must transfer $350,000 annually per dry cask during operation and $5,250,000 annually when plant is not operating (if ordered by commission) to renewable development account.

Renewable development account funds may be used for: increasing renewable energy market penetration, promoting renewable energy projects and companies, supporting renewable energy research and development, and developing near-commercial demonstration-scale renewable projects within Minnesota.

Account management requires Public Utilities Commission approval for expenditures, utility consultation with ratepayer advisory groups, and independent third-party expert evaluation of proposals; utilities must annually report to legislature on funded projects by February 15.

$10,900,000 annually must be allocated from the account for renewable energy production incentives until January 1, 2021, with $9,400,000 designated for wind energy systems and up to $1,500,000 for biogas and hydroelectric facilities.