NC S474

Authorizes local boards of education to enter into operating leases for construction and operation of net-zero energy schools designed to generate at least 105% of the school's annual electrical consumption through on-site renewable energy sources.

Requires net-zero energy schools to meet ASHRAE Standard 90.1-2007 energy efficiency requirements and be served by the local utility provider at a maximum fee of $400 per month (indexed annually to consumer price index).

Establishes state payment guarantee mechanism where the State Treasurer will advance lease payments to private developers if school administrative units fail to pay, and will recover amounts by withholding from state payments to the school unit or county.

Requires electric power suppliers to purchase renewable energy and energy savings from net-zero energy schools at a minimum rate of $40 per gross MWh under 20-year contracts, with payments treated as Renewable Energy Certificates rather than electricity payments.

Permits net-zero energy schools to operate standby generation equipment and participate in utility load management and demand response programs on the same terms as other customers.