The power company is to continue rebates for consumers who install solar systems until reaching $91.9 million. Ameren Missouri has paid nearly $22 million from Aug. 1, 2012, through Oct. 31 of this year.
A 2008 voter-approved law requires investor-owned utilities to use renewable energy sources. Renewables are to account for at least 2 percent of electricity now, 5 percent by next year, 10 percent by 2018 and 15 percent by 2021. At least 2 percent must come from solar energy. Electric rates also cannot increase by more than 1 percent.
Ameren Missouri requested permission from the Public Service Commission to suspend solar rebates. Gov. Jay Nixon signed legislation in July allowing utilities to stop solar rebates if the power company determines the 1 percent cap would be reached.
The solar rebate settlement was agreed to by Ameren, Renew Missouri, which sponsored the 2008 law, and others.
Regulators previously approved an agreement over solar rebates for Kansas City Power & Light Greater Missouri Operations and Kansas City Power & Light Missouri.
Ameren Missouri is based in St. Louis and has 1.2 million electric customers in Missouri.