HF 4654 Summary

• Appropriates $149.5 million in fiscal year 2023 from the general fund and renewable development account for energy and climate initiatives.

• Establishes a water utility energy resilience program with $18 million to fund feasibility studies and installation of renewable energy, combined heat and power, energy efficiency, and energy storage technologies at public water treatment facilities.

• Creates three new energy investment funds: a $34 million green innovation finance fund to finance clean energy projects through loans and credit enhancements, a $20 million state competitiveness fund to leverage federal energy-related formula and competitive grants, and a $35 million decarbonization technology investment fund providing loans and grants to Minnesota businesses for carbon-reducing technologies.

• Allocates $34.5 million for weatherization assistance to lower household energy costs, $3 million to expand solar programs for schools, and $5 million for renewable integration demonstration projects.

• Requires annual reporting to the legislature on fund activities, remaining balances, and project outcomes by February 15 of each year.