Increases the effectiveness of the existing renewable energy investment cost recovery program by reducing the maximum incentive rate provided for each kilowatt-hour of electricity generated by a renewable energy system while broadening the opportunity to access the incentives by creating opportunities for broader participation by low-income individuals and others who may not own the premises where a renewable energy system may be installed.

Provides an incentive sufficient to promote installation of systems through 2020, at which point the legislature expects that the state's solar industry will be capable of sustained growth and vitality without the cost recovery incentive.