MO SB801

Repeals and re-enacts section 393.1030, RSMo, establishing renewable energy portfolio requirements for all electric utilities: 2% for 2011-2013, 5% for 2014-2017, 10% for 2018-2020, and 15% beginning in 2021, with at least 2% from solar energy.

Provides that eligible energy generated in Missouri counts as 1.25 kilowatt-hours for compliance purposes and allows utilities to comply through purchasing renewable energy credits (RECs) with a 3-year validity period.

Establishes a maximum average retail rate increase cap of 1% for renewable energy compliance costs, with special provisions allowing additional solar rebates up to June 30, 2020, even if exceeding the 1% cap.

Requires utilities to offer solar rebates for customer-sited systems up to 25 kilowatts, decreasing from $2/watt before June 30, 2014, to $0/watt after June 30, 2020, with customers transferring renewable energy credits to utilities for 10 years upon receiving rebates.

Imposes penalties of at least twice the average market value of RECs for failure to meet renewable energy targets, excludes penalties from customer recovery, and directs forfeited amounts to the department for renewable energy and efficiency projects.