Promote Innovative And Clean Energy Technologies

The act replaces the integrated gasification combined cycle (IGCC) program, which was repealed in 2019, with a mechanism by which an investor-owned utility seeking to implement an innovative energy technology project may apply to the public utilities commission (PUC) to acquire resources that demonstrate the use of innovative, zero-emission technologies for energy generation and storage. To qualify for cost recovery, the utility's expenditures must be determined by the PUC to have been prudently incurred and the utility's return on investment may not exceed the return on a comparably sized photovoltaic or wind-electric generation facility.(Note: This summary applies to this bill as enacted.)