In this section the following words have the meanings indicated. “Eligible customer–generator” has the meaning stated in § 7–306 of this subtitle. “Net energy metering” has the meaning stated in § 7–306 of this subtitle. It is the intent of the General Assembly to transition to a net energy metering program that: increases benefits to ratepayers by lowering electric system costs through the use of flexible customer–sited renewable energy resources; provides fair compensation to eligible customer–generators; is designed to make progress toward meeting the State’s demand–side, energy storage, and clean energy goals; and provides incentives for the development of distributed generation that are less than the incentives provided by the net energy metering program under § 7–306 of this subtitle. On or before February 1, 2027, the Commission, by order or regulation, shall approve, as a successor program to the net energy metering program under § 7–306 of this subtitle, a framework for a net energy metering program to begin July 1, 2027, that: provides incentives for the development of distributed generation to eligible customer–generators under §§ 7–306 and 7–306.3 of this subtitle and community solar energy generating systems under § 7–306.2 of this subtitle; minimizes ratepayer costs in the short term and in the long term; and balances, on a statewide basis and across technologies and industry sectors participating in net energy metering: fair compensation for energy exports; and the benefits of an eligible customer–generator’s or facility’s reduced load on the electric transmission and distribution system; against the needs of the transmission and distribution system; ratepayer costs and benefits; and potential impacts on customers, including low– and moderate–income customers, who do not participate in the net energy metering program resulting from eligible customer–generators’ reduced contributions to the distribution system. The Commission shall prioritize the review and approval of applications from a prospective eligible customer–generator for participation in the program implemented under subsection (c) of this section if, at the time the program was implemented, the prospective eligible customer–generator was in the applicable electric company’s interconnection queue for the net energy metering program under § 7–306 of this subtitle. The program implemented by the Commission under subsection (c) of this section shall be available until the combined total rated generating capacity owned and operated under the net energy metering program under § 7–306 of this subtitle and the net energy metering program implemented under this section reaches 6,000 megawatts.