Bill > S718

This bill introduces the Fair Procurement and Ownership Reform Act, which aims to transform renewable energy procurement in North Carolina by establishing an all-source competitive bidding process that includes various energy technologies like solar, wind, battery storage, hydropower, and geothermal. The bill eliminates previous mandated ownership percentages for public utilities in renewable energy projects, promoting a more competitive and neutral market. It requires electric utilities serving over 150,000 customers to conduct comprehensive procurement processes every two years, with bids evaluated by independent evaluators using standardized criteria that consider alignment with state renewable energy goals, cost-effectiveness, reliability, and technological feasibility. The legislation also restructures shared solar capacity allocation across different customer categories (large commercial, small commercial, government, and residential), ensuring more equitable access to renewable energy options. Public utilities are prohibited from holding mandated equity stakes in renewable projects, with an emphasis on third-party ownership and market-driven outcomes. The bill mandates transparency through detailed reporting requirements, allows for cost recovery of prudently incurred expenses, and establishes mechanisms for ongoing program evaluation and potential reforms. Implementation is set to begin in October 2025, with the North Carolina Utilities Commission required to establish implementation guidelines within 12 months of the act's enactment, ultimately aiming to accelerate renewable energy development and reduce carbon emissions.

https://www.ncleg.gov/BillLookUp/2025/S718