H681 Summary: NC Energy Ratepayers Protection Act

• Modifies renewable energy policy to require consideration of distributed generation and the full spectrum of generation resources, including renewables, in utility resource planning and rate-setting focused on achieving least-cost energy solutions.

• Expands the definition of "small power producer" renewable resources to include solar electric, solar thermal, wind, geothermal, ocean, wave, and various biomass sources; requires utilities to offer standard contracts for small facilities up to 100 kilowatts with maximum 15-year contract terms.

• Freezes North Carolina's Renewable Energy Portfolio Standard (REPS) requirements at 6% through 2018 for electric utilities, membership corporations, and municipalities; eliminates scheduled increases to 10-12.5% and ends solar, swine waste, and poultry waste compliance requirements after 2018.

• Increases allowable energy efficiency compliance from 25% to 50% of REPS requirements and modifies cost recovery caps effective July 1, 2015, capping residential ratepayer charges at $12/account annually.

• Requires the Energy Policy Council to complete a comprehensive assessment by May 1, 2016, analyzing known and measurable costs and benefits of distributed generation and net metering on North Carolina's electric grid and customer protection.