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Local Option - Energy Improvement Loan Program

Last Review: 2012-05-02
Incentive Type: PACE Financing
Eligible Efficiency Technologies: Yes; specific technologies not identified, Other Distributed Generation Technologies
Applicable Sectors: Commercial
Terms: Local governing body must provide an explanation of any proposed program to utility distributing energy or natural gas to the area no later than 30 days prior to implementing said program.
Website:

Summary:

Note: The Federal Housing Financing Agency (FHFA) issued a statement in July 2010 concerning the senior lien status associated with most PACE programs. In response to the FHFA statement, most local PACE programs have been suspended until further clarification is provided.

Property-Assessed Clean Energy (PACE) financing effectively allows property owners to borrow money to pay for energy improvements. The amount borrowed is typically repaid via a special assessment on the property over a period of years. Wyoming has authorized local governments to establish such programs, as described below.

Wyoming enacted legislation in July 2011 (H.B. 0179) authorizing local governments to establish a loan program to provide financing for cost-effective energy improvements to existing residential, commercial and industrial properties. Governments that opt in to the establishment of energy improvement programs must provide an explanation of proposed programs to utilities distributing energy or natural gas to the area no later than 30 days prior to implementing said program. Eligible energy improvement programs are described as energy efficiency or renewable energy improvements within a program adopted by municipality, county or multi-county joint board.

Local governments are authorized to secure loans under energy improvement programs through liens in the same manner as provided for special assessments (W.S. 15-6-401 et se.) or through other securities deemed necessary. Additional securities may include the requirement of energy audits, loan terms, application and loan fees, and conditions to ensure timely repayment of loans and fees.

Not all local governments in Wyoming offer PACE financing; contact your local government to find out if it has established a PACE financing program.


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