House committee substitute to the 2nd edition makes the following changes.

Establishes distinct caps under GS 62-126.5 on the capacity of a solar energy facility leased to an individual customer generator lessee pursuant to GS 62-126.5, based on the type of customer, now limiting capacity to (1) not more than the lesser of 1,000 kW or 100% of contract demand if a nonresidential customer, or (2) not more than 20 kW or 100% of estimated electrical demand if a residential customer (previously capped at a capacity greater than 1 MW or the customer's contract demand which approximates their expected demand, whichever is less). Specifies that the act applies to solar energy facility leases executed on or after July 1, 2023. 

Deletes the proposed changes to GS 62-126.4 and GS 62-133.8, which required the Utilities 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. 

Changes the act's long title.