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:

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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.