OFFICE OF FISCAL ANALYSIS
Legislative Office Building, Room 5200
Hartford, CT 06106 (860) 240-0200
http://www.cga.ct.gov/ofa
HB-6523
AN ACT CONCERNING VIRTUAL NET METERING CREDITS FOR
MANUFACTURERS IN DISTRESSED MUNICIPALITIES.
AMENDMENT
LCO No.: 8266
File Copy No.: 269
House Calendar No.: 223
Primary Analyst: AN 5/11/21
Contributing Analyst(s): (S)
OFA Fiscal Note
Savings
The amendment increases the existing annual cap on virtual net
metering credits from $20 million to $50 million, resulting in savings to
participating municipalities and state agencies from applying such
credits towards their electric utility costs. The underlying bill designates
$10 million of the amount to manufacturers located in distressed
municipalities, therefore leaving the remaining $40 million in credits
available to municipalities or state agencies as potential savings.
Under current law, municipalities and state agencies are limited to
40% of total credits under the cap. For example, the amendment would
increase the total amount of available credits to municipalities from $8
million (40% of $20 million) to $16 million (40% of $40 million).
The amendment is anticipated to increase the number of
municipalities that participate in the virtual net metering program.
Towns not yet participating have not had a financial incentive while the
cap was being met.
The preceding Fiscal Impact statement is prepared for the benefit of the members of the General Assembly, solely
for the purposes of information, summarization and explanation and does not represent the intent of the General
Assembly or either chamber thereof for any purpose. In general, fiscal impacts are based upon a variety of
informational sources, including the analyst’s professional knowledge. Whenever applicable, agency data is
consulted as part of the analysis, however final products do not necessarily reflect an assessment from any
specific department.