SB 857 - This act requires that electrical corporations make available to public schools, public and private institutions of higher education, private schools, charter schools, and nonprofit organizations solar rebates in amounts set forth in this act. Solar rebates shall be made available through June 30, 2020, but may be made available by an electrical corporation's approved tariff after that date.
An electrical corporation's costs of complying with this act shall be limited to 1% of the corporation's base revenue level. At no point shall complying with this act raise retail rates charged to customers by an average of more than 1% in any year. The Public Service Commission may amortize costs to keep the maximum average retail rate increase less than 1%. Customers meeting certain conditions under this act shall not have their retail rates increased in order to meet the electrical corporation's cost of complying with this act.
If an electrical corporation determines that the maximum average retail rate increase will be reached in any calendar year, the corporation may cease paying rebates if they file to suspend their rebate tariff with the Public Service Commission. If the Public Service Commission determines that the maximum average retail rate increase will be reached, they shall approve the tariff suspension.
As a condition of receiving a rebate, customers shall transfer to the electrical corporation all interest in renewable energy credits associated with the solar electric system for 10 years. Further, the schools shall also provide science, technology, engineering, and mathematics learning opportunities relating to renewable energy and energy efficiency.
This act is identical to HB 2064 (2014).