Two companion bills related to energy efficiency financing have been introduced.

HB 2405 (with companion bill SB 6222) authorizes a commercial property assessed clean energy and resiliency program (C-PACER) to ensure that owners of commercial properties (including agricultural, industrial, and multifamily residential properties) can obtain low-cost, long-term financing to make energy efficient improvements.

C-PACER uses borrowed capital to pay for the upfront costs associated with energy efficiency or renewable energy improvements. Unlike other project financing, the borrowed capital is repaid over time via a voluntary tax assessment. Public funding is not necessary to run a C-PACER project. Although HB 2405 authorizes C-PACER programs, counties can choose to implement a local C-PACER program.

Dates to remember

HB 2405 is scheduled for a public hearing in the House Local Government Committee at 10 am on January 21.

SB 6222 is scheduled for a public hearing in the Senate Environment, Energy, & Technology Committee at 8 am on January 22.