House committee substitute to the 1st edition makes the following changes. Deletes amendments to GS 62-126.5 that remove the cap on the total installed capacity of all solar energy facilities on an offering utility’s system that are leased. Instead increases that cap from 1% to 10% of the previous five-year average of the NC retail contribution to the offering utility’s coincident retail peak demand. Further specifies that a solar energy facility leased to an individual customer generator lessee pursuant to GS 62-126.5 cannot have a capacity greater than 1 MW (megawatt) or the customer's contract demand which must approximate the customer's maximum expected demand, whichever is less. Effective July 1, 2023, and applies to solar facility leases executed on or after that date.

Deletes proposed amendment to GS 62-126.4 that required the North Carolina Utilities Commission (Commission) to continue to allow net metering for any customer owning and operating a renewable energy facility that generates electricity with a capacity up to 1 MW at the applicable net metering rate in place at the time of interconnection.  Requires Commission to expand net metering at the applicable net metering rate to customers that own and operate a renewable energy facility with a capacity of not more than 5 MW or the customer's contract demand which must approximate the customer's maximum expected demand, whichever is less. Specifies that to comply with the terms of the section, a participating customer's meter may be served only by a renewable energy facility that serves only one premises (was, a requirement that the Commission expand net metering at the applicable net metering rate in place at the time of interconnection to customers owning and operating a renewable energy facility with a capacity over 1 MW that is intended primarily to offset the customer's annual usage).

Amends changes to GS 62-133.8 by now requiring that the Commission adopt rules for electric public utilities for net metering of renewable energy facilities with a generation capacity of 5 MW or the customer’s contract demand which must approximate the customer's maximum expected demand, whichever is less (was, a generation capacity intended primarily to offset the customer's annual usage).

Makes organizational changes and conforming changes to the effective date and titles.