On or before July 1, 2019, the Department of Energy and Environmental Protection and the Public Utilities Regulatory Authority shall initiate a proceeding to jointly study the value of distributed energy resources. On or before July 1, 2020, the department and the authority shall jointly report the findings of such study, in accordance with the provisions of section 11-4a, to the joint standing committee of the General Assembly having cognizance of matters relating to energy.