Based on an “on-bill repayment” feature, the program would allow the property owner to avoid large upfront costs and instead pay for upgrades through regular installments on his utility bill. The idea is that the energy cost savings would cover or exceed the loan or the leasing repayment added to the bill each month. The repayment remains on the property’s utility bill until it’s paid off, even if the property changes ownership, and the utility would have the authority to cut off service for nonpayment.
The concept is not new. About a dozen states offer similar programs. California’s new twist is the source of financing and the obligation to repay the loan regardless of a change in ownership.
Via Streamside Solutions, Hans De Keulenaer