New York passes clean energy financing bill
The New York State Legislature has not, of late, been able to agree on anything — the budget, same-sex marriage, and even, for awhile, which party was in the majority.
But there is one thing they are unanimous about: clean energy finanancing. Last night, by a vote of 192-0, the famously combative body passed S66004-a/A 4000A-a, a bill that enables municipalities in the state to set up special financing districts to help residents finance investments in energy efficiency and solar.
Called Property Assessed Clean Energy (PACE), it’s a model that allows cities to issue bonds to help residents finance investments in energy efficiency and solar, and pay off the loans through a property tax assessment.
With New York, 15 states now allow these programs.
And if you are in New York, the next step is to get your town to set up a program. Step-by-step guide here.