(1) There is established within the office a program and facility known as the Utah San Rafael Energy Lab to facilitate innovative energy research and development projects.
(2) The lab shall:
(a) receive and evaluate project proposals;
(b) submit recommendations to the board for approval regarding specific project proposals based on the lab's evaluation;
(c) conduct innovative energy technology research and development projects that have commercialization potential and support the state's energy policy goals;
(d) enter into financial contracts with entities seeking to use the lab, with revenues deposited into the Utah Energy Research Fund created in Section 79-6-1002;
(e) assess the viability of emerging energy solutions for deployment within the state, considering:
(i) cost-effectiveness;
(ii) dispatchability;
(iii) sustainability;
(iv) reliability; and
(v) environmental impact;
(f) provide analysis and recommendations to policymakers regarding energy system planning, infrastructure needs, and the value of different energy initiatives being considered within the state; and
(g) collaborate with universities, industry partners, entrepreneurs, community representatives, and other research entities.