For the purpose of complying with a portfolio standard established pursuant to NRS 704.7821 or 704.78213, a provider shall be deemed to have generated or acquired 2.4 kilowatt-hours of electricity from a renewable energy system for each 1.0 kilowatt-hour of actual electricity generated or acquired from a solar photovoltaic system, if:
1. The system is installed on the premises of a retail customer;
2. The system was placed into operation on or before December 31, 2015; and
3. On an annual basis, at least 50 percent of the electricity generated by the system is utilized by the retail customer on that premises.
(Added to NRS by 2003, 805; A 2009, 999; 2013, 2321)