— Evidence of financial security. A. The owner of a renewable energy recycling facility shall submit an annual report to the Public Utility Division of the Corporation Commission no later than February 1 of each calendar year for the immediately preceding calendar year. The report shall include a current total inventory of renewable energy components accepted for recycling, but not yet recycled, as of the end of the reporting period and an estimated timeline for the finality of recycling of those renewable energy components. The report shall also include the estimated costs for completing the recycling of the reported inventory within the estimated timeline. Provided, the estimated costs associated with the recycling of wind turbine blades shall be reported independently from the aggregate cost estimate. The report shall be submitted in the manner and form prescribed by the Commission. B. The owner of a renewable energy recycling facility shall submit to the Public Utility Division of the Commission evidence of financial security to cover the anticipated costs of recycling the reported inventory, including wind turbine blades, during the upcoming calendar year. Evidence of financial security may be in the form of a surety bond, collateral bond, parent guaranty, cash, cashier’s check, certificate of deposit, bank joint custody receipt, or other approved negotiable instrument as established in rules promulgated by the Corporation Commission. Evidence of financial security shall be submitted within ninety (90) days of the renewable energy recycling facility taking control of any renewable energy components to be recycled. C. The amount of financial security shall be one hundred twenty-five percent (125%) of the estimated total cost of recycling reported pursuant to subsection A of this section. D. The Public Utility Division of the Commission shall post on the website of the Commission a list of those renewable energy recycling facilities that have submitted the report and evidence of financial security in accordance with the provisions of this section. An owner of a wind farm operation that chooses to send wind turbine blade renewable energy components to a third-party recycling facility located in this state shall utilize renewable energy recycling facilities listed on the Commission website. E. If the owner of a recycling facility fails to submit the information required by this section, the owner shall be subject to an administrative penalty not to exceed Five Hundred Dollars ($500.00) per day. F. Each recycling facility shall submit an annual registration fee of One Thousand Dollars ($1,000.00) per year to the Commission at the time of the annual report filing to cover the cost of implementing the provisions of this section.
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