MN HF773

Establishes a "value of solar" rate that utilities must pay solar photovoltaic system owners for electricity generated, calculated by the Department of Commerce by October 1, 2013, incorporating line loss savings, transmission and distribution capacity savings, energy savings, generation capacity savings, fuel price hedge value, environmental benefits, and economic development benefits.

Creates a solar energy standard requiring electric utilities to generate or procure solar electricity equal to 0.52% of retail sales by 2016, 1.56% by 2020, 4.02% by 2025, and 10.06% by 2030.

Establishes a solar energy production incentive account funded by assessments on public utilities (up to 1.33% of gross annual retail electricity sales) to pay incentive payments to qualified solar photovoltaic device owners for 20-year periods from 2014 through 2044.

Requires utilities to interconnect with solar photovoltaic devices and establishes a statewide uniform power purchase agreement for systems over 40 kilowatts with minimum 20-year terms.

Mandates studies by the Department of Commerce on solar installation potential for public buildings, solar interconnection capacity on distribution systems, on-site energy storage devices, and solar thermal projects, with reports due by January 1, 2014.