Energy: solar energy systems: funding.

Under existing law, the Public Utilities Commission (PUC) has regulatory authority over public utilities, including electrical corporations. Decisions of the PUC adopted the California Solar Initiative. Existing law requires the PUC, in implementing the California Solar Initiative, to ensure that the total cost over the duration of the program does not exceed $3,350,800,000, and imposes monetary limits on programs funded by charges collected from customers of the state's 3 largest electrical corporations and on programs adopted, implemented, and financed by charges collected by local publicly owned electrical utilities. This bill would increase the cost limit to $3,550,800,000, and make a corresponding increase in a monetary limit imposed on programs funded by charges collected from customers of the state's 3 largest electrical corporations. The bill would require the commission, before collecting additional ratepayer funds to fund certain program shortfalls, to first allocate interest accumulated from customer collections and, for the remainder of the shortfall, to increase collections from customers of the state's 3 largest electrical corporations for specified programs. The bill, except as specified, would set the discount rate for interest at 4%. The bill would require the commission, within 90 days of the enactment of the bill, to establish and impose project cost caps for residential and nonresidential projects under the California Solar Initiative, based on national and state installed cost data. This bill would declare that it is to take effect immediately as an urgency statute.