HB 613 Summary

• Replaces the 2008 Renewable Energy Standard with a new "Renewable Energy Act" that establishes differentiated renewable energy requirements based on electric utility size, with megawatt targets ranging from 20 MW to 410 MW by 2020 depending on utility Missouri revenues.

• Caps cost impact to large industrial customers (those with demand of 5,000+ kilowatts or interstate pipeline stations) at no more than 1 percent of billings and limits annual net compliance costs to $100,000 per retail customer.

• Requires utilities to pursue renewable energy goals of 2-15 percent of retail sales by 2021, with at least 2 percent from solar, and reduces megawatt requirements by 5 percent for every dollar that levelized cost of energy exceeds $70 per megawatt-hour.

• Establishes solar rebate and financial incentive programs with maximum annual funding ranging from $500,000 to $13 million depending on utility size, providing $1-3 per watt for customer-owned solar installations up to 100 kilowatts.

• Creates a Renewable Energy Surcharge (RES) tariff mechanism allowing utilities to recover compliance costs through rate adjustments outside general rate proceedings, subject to commission oversight and annual reconciliation, and penalizes utilities $2,000 per day for failure to meet requirements.