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Legal Issues in Financing Energy Efficiency: Creative Solutions for Funding the Initial Capital Costs of Investments in Energy Efficiency Measures
By James M. Van Nostrand
This Article discusses possible solutions designed to address the issues of (1) financing the initial capital costs of investing in energy efficiency measures, and (2) providing a means of spreading the repayment obligation over the useful lives of the installed measures in a manner that recovers the costs from the occupant receiving the benefits from the measure. It will focus on two approaches in particular that are currently being considered or implemented in New York State: (1) Property Assessed Clean Energy financing, which authorizes the issuance of bonds to provide a potential source of up-front financing for property owners to make energy efficiency (and renewable energy)improvements, and (2) "on-bill recovery," which contemplates the up-front capital being provided by the serving electric or gas utility or a third-party lender, with a repayment mechanism - surcharges on utility bills - that allows the repayment obligation for these improvements to "run" with the utility meter and to transfer automatically to the subsequent occupant of the property.
About This Content
Keywords: None associated
Content Type: Article
Media Type: Print
Author: James M. Van Nostrand
Publish Date: January 2011
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