HF956 Summary

• Extends guaranteed energy-savings agreement terms from 15 to 25 years and allocates $5 million annually through 2014 to University of Minnesota's Initiative for Renewable Energy and the Environment.

• Establishes value of solar rate framework allowing solar photovoltaic device owners to receive credits based on the economic value of solar energy, with the Department of Commerce developing guidance documents by December 1, 2013.

• Permits community solar generating facilities with multiple subscribers to operate and sell electricity, with subscriptions sized at no more than 120 percent of annual electricity consumption and minimum 20-year contract terms.

• Increases renewable energy standards to 25 percent by 2016 and 40 percent by 2030, adds new solar energy standard of 4 percent by 2025, and establishes solar production incentive program paying 13.6 to 20.4 cents per kilowatt-hour depending on installation type.

• Creates "Made in Minnesota" solar photovoltaic module certification and incentive program providing performance-based payments for modules manufactured in Minnesota through 2023, with up to $5 million annually in funding.