HB 1542-FN - AS AMENDED BY THE HOUSE

12Feb2026... 0241h

26Mar2026... 1085h

2026 SESSION

26-2766

07/05

HOUSE BILL 1542-FN

AN ACT directing alternative compliance payments to the renewable energy fund to be refunded to ratepayers.

SPONSORS: Rep. Notter, Hills. 12; Rep. Ammon, Hills. 42; Rep. Bernardy, Rock. 36; Rep. Berry, Hills. 44; Rep. Sabourin dit Choiniere, Rock. 30; Rep. D. Thomas, Rock. 16; Rep. Vose, Rock. 5

COMMITTEE: Science, Technology and Energy

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AMENDED ANALYSIS

This bill provides that alternative compliance payments to the renewable energy fund under RSA 362-F:10, II shall be refunded to ratepayers.

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Explanation: Matter added to current law appears in bold italics.

Matter removed from current law appears [in brackets and struckthrough.]

Matter which is either (a) all new or (b) repealed and reenacted appears in regular type.

12Feb2026... 0241h

26Mar2026... 1085h 26-2766

07/05

STATE OF NEW HAMPSHIRE

In the Year of Our Lord Two Thousand Twenty-Six

AN ACT directing alternative compliance payments to the renewable energy fund to be refunded to ratepayers.

Be it Enacted by the Senate and House of Representatives in General Court convened:

1  Renewable Energy Fund; Effective until July 1, 2027.  Amend RSA 362-F:10, I to read as follows:  

I.  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, including the office of 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.] that are in excess of administration costs and funding for the office of offshore wind industry development and energy innovation shall be transferred to the general fund.  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.  

2  Renewable Energy Fund; Effective July 1, 2027.  Amend RSA 362-F:10, I to read as follows:  

I.  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.] that are in excess of administration costs and funding for the office of offshore wind industry development and energy innovation shall be rebated to all retail electric ratepayers in the state on a per-kilowatt-hour basis, in a timely manner to be determined by the commission.  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.  

3  Effective Date.  

I.  Section 2 of this act shall take effect on July 1, 2027, at 12:01 a.m.  

II.  The remainder of this act shall take effect June 30, 2026.

LBA

26-2766

04/15/2026

HB 1542-FN- FISCAL NOTE

AS AMENDED BY THE HOUSE (AMENDMENT # 2026-1085h)

AN ACT directing alternative compliance payments to the renewable energy fund to be refunded to ratepayers.

FISCAL IMPACT:   

METHODOLOGY:

Section 1 of this bill aligns the statutory language with the allocation structure assumed in the operating budget under Laws of 2025, 141:141 for FY 2027, with the exception that it eliminates the provision allocating up to $1,000,000 annually to support thermal and electrical renewable energy initiatives.

Under Laws of 2025, 141:141, moneys in the Renewable Energy Fund (REF) are used for administrative costs and up to $1,000,000 annually for renewable energy initiatives, with the remaining balance transferred to the General Fund.  By eliminating the $1,000,000 allocation in FY 2027, this bill results in an increase to General Fund revenue of approximately $1,000,000 in FY 2027.

Section 2 of this bill, effective July 1, 2027, requires remaining REF moneys, after administrative costs, to be rebated to ratepayers on a per-kilowatt-hour basis.

The Department of Energy estimates revenue into the REF of approximately $7,000,000 per year.  From this amount, the Department estimates administrative costs of $555,000 in FY 2028,and $560,000 in FY 2029.  After deducting administrative costs, the estimated amount to be rebated to ratepayers is approximately $6,400,000 to $6,500,000 annually beginning in FY 2028.

Based on calendar year 2025 kWh sales of 10,764,460,724, the Department estimates the per kWh rebate to ratepayers would be approximately $0.00055 in FY 2028 and FY 2029.  The state represents approximately 1% of sales, which would result in an estimated annual rebate to the state of approximately $59,000 in FY 2028 and FY 2029.

Because the allocation structure in Laws of 2025, 141:141 applies only to FY 2026 and FY 2027, the ratepayer rebate beginning in FY 2028 does not result in an impact to the General Fund when compared to that baseline.

The bill also references the Office of Offshore Wind Industry Development, which appears to no longer exist in statute.

County and municipal impacts are indeterminable because the Department does not have consumption data for those entities.

AGENCIES CONTACTED:

Department of Energy