Requires consumer- or investor-owned utilities to semiannually offer contracts to eligible clean energy facilities through a competitive process. This act provides specific requirements for eligible facilities and procedural requirements for awarding contracts. This act requires electric utilities to auction all remaining cumulative generating capacity in 2016. This act allows for tax credits to electric utilities based on their level of compliance and subject to certain conditions. The right to earn tax credits expires June 30, 2020. This act takes effect August 1, 2011.   Official Text and Analysis.