Section 362-F:10 - Renewable Energy FundI. There is hereby established a renewable energy fund. This nonlapsing special fund shall be continually appropriated to the department of energy to be expended in accordance with this section; provided that at the start of the period in which there is no adopted state operating budget, the department of energy shall in a timely manner seek the approval of the fiscal committee of the general court to continue using moneys from the renewable energy fund to support renewable energy rebate and grant programs in order to ensure there are no interruptions to the programs. The state treasurer shall invest the moneys deposited therein as provided by law. Income received on investments made by the state treasurer shall also be credited to the fund. All payments to be made under this section shall be deposited in the fund. Any remaining moneys paid into the fund under paragraph II of this section, excluding class II moneys, shall be used by the department of energy to support thermal and electrical renewable energy initiatives and offshore wind initiatives, including the office of offshore wind industry development and energy innovation. Class II moneys shall primarily be used to support solar energy technologies in New Hampshire. All initiatives supported out of these funds shall be subject to audit by the department of energy as deemed necessary. All fund moneys including those from class II may be used to administer this chapter, but all new employee positions shall be approved by the fiscal committee of the general court. No new employees shall be hired by the department of energy due to the inclusion of useful thermal energy in class I production.II. In lieu of meeting the portfolio requirements of RSA 362-F:3 for a given year if, and to the extent sufficient certificates are not otherwise available at a price below the amounts specified in this paragraph, an electricity provider may, at the time of report submission for that year under RSA 362-F:8, make payment to the department of energy at the following rates for each megawatt-hour not met for a given class obligation through the acquisition of certificates: (a) Class I-$55, except for that portion of the class electric renewable portfolio standards to be met by qualifying renewable energy technologies producing useful thermal energy under RSA 362-F:3 which shall be $25 beginning January 1, 2013.III.(a) Beginning in 2013, the department of energy shall adjust these rates by January 31 of each year using the Consumer Price Index as published by the Bureau of Labor Statistics of the United States Department of Labor for classes III and IV and 1/2 of such Index for classes I and II.(b) In lieu of the adjustments under subparagraph (a) for class III in 2015 and 2016, the class rate in each of those years shall be $45. In lieu of the adjustments under subparagraph (a) for class III in 2017, 2018, and 2019, the class rate in each of those years shall be $55.(c) By January 31, 2020 the department of energy shall compute the 2020 class III rate to equal the rate that would have resulted in 2020 by the application of subparagraph (a) to the 2013 rate and each subsequent year's rate to 2020.(d) In 2021 and thereafter, the class III rate shall be determined by application of subparagraph (a) to the prior year's rate.IV. The department of energy shall make an annual report by November 1 of each year, beginning in 2024, to the house science, technology and energy committee, and the senate energy and natural resources committee detailing how the renewable energy fund is being used and any recommended changes to such use. The report shall also include information on the total peak generating capacity that is net energy metered under RSA 362-A:9 within the franchise area of each electric distribution utility, and the percentage this represents of the amount that is allowed to be net metered within each franchise area. Information shall be provided on net metered group host registrations and the associated customer groups, including number and location of group host facilities, generation by renewable source and size of facility, and group load served by such facilities.V. [Repealed by 2024 amendment.]VI.Repealed by 2024 amendment.]VII. [Repealed by 2024 amendment.]VIII.(a) The department of energy may, after notice and hearing, by order or rule, establish additional incentive or rebate programs and competitive grant opportunities for renewable thermal and electric energy projects sited in New Hampshire, or may modify existing programs or opportunities. Funding allocations shall be subject to the apportionment requirements under paragraph X.(b) The department of energy shall, after notice and hearing, by order or rule, develop incentive or rebate programs or competitive grant opportunities for renewable thermal and electric energy projects for political subdivisions. Any project that receives funding shall be sited in New Hampshire. Funding allocations for political subdivision projects under this subparagraph shall not be subject to the apportionment requirements under paragraph X.IX. [Repealed by 2024 amendment.]X. The department of energy shall, over each 2-year period commencing July 1, 2010, reasonably balance overall amounts expended, allocated, or obligated from the fund, net of administrative expenditures, between residential and nonresidential sectors. Funds from the renewable energy fund awarded to renewable projects in the residential sector shall be in approximate proportion to the amount of electricity sold at retail to that sector in New Hampshire, and the remaining funds from the renewable energy fund shall be awarded to projects in the nonresidential sector which include commercial and industrial sited renewable energy projects, existing generators, and developers of new commercial-scale renewable generation in New Hampshire, provided no less than 15 percent of the funds shall annually benefit: (a) Low-moderate income residential customers, including, but not limited to, the financing or leveraging of financing for low-moderate income community solar projects in manufactured housing communities or in multi-family rental housing.(b) Residents of a public housing authority created pursuant to RSA 203, or a housing project as described in RSA 78-B:2, XXIII, where the electric bills are either paid directly by the residents or by the public housing authority or housing project, provided that at least a majority of the residents benefiting are at or below 80 percent of the Area Median Income (AMI) calculated by the Department of Housing and Urban Development.XI. The department of energy shall issue requests for proposals that provide renewable projects in the nonresidential sector, which include commercial and industrial sited renewable energy projects, existing generators, and developers of new commercial-scale renewable generation in New Hampshire, with opportunities to receive funds from the renewable energy fund established under RSA 362-F:10. The requests for proposals shall provide such opportunities to those renewable energy projects that are not eligible to participate in incentive and rebate programs developed by the department of energy under RSA 362-F:10, V and RSA 362-F:10, VIII. The department of energy shall issue a request for proposals annually and select winning projects in a timely manner.Amended by 2024, 375:5, eff. 7/1/2024.Amended by 2024, 341:11, eff. 8/2/2024.Amended by 2024, 79:4, eff. 6/14/2024.Amended by 2024, 79:3, eff. 6/14/2024.Amended by 2024, 79:2, eff. 6/14/2024.Amended by 2024, 79:1, eff. 6/14/2024.Amended by 2023, 166:3, eff. 9/26/2023.Amended by 2023, 79:112, eff. 7/1/2023.Amended by 2022 , 137: 1, eff. 8/6/2022.Amended by 2021 , 91: 240, eff. 7/1/2021.Amended by 2018 , 253: 4, eff. 8/11/2018.Amended by 2017 , 226: 10, eff. 7/11/2017.Amended by 2017 , 226: 9, eff. 7/11/2017.Amended by 2017 , 226: 3, eff. 7/11/2017.Amended by 2017 , 156: 105, eff. 7/1/2017.Amended by 2016 , 319: 16, eff. 6/24/2016.Amended by 2015 , 276: 224, eff. 7/1/2015.Amended by 2013 , 279: 9, eff. 7/27/2013.Amended by 2013 , 279: 2, eff. 7/27/2013.Amended by 2013 , 279: 1, eff. 7/27/2013.Amended by 2013 , 272: 3, eff. 7/24/2013.Amended by 2013 , 266: 3, eff. 7/24/2013.Amended by 2012 , 272: 14, eff. 6/19/2012.Amended by 2012 , 272: 13, eff. 6/19/2012. 2007, 26:2. 2008, 368:1, eff. July 11, 2008. 2009, 86:3, eff. June 10, 2009. 2010, 143:4, eff. Aug. 13, 2010; 254:1-4, eff. July 6, 2010.