State Rep. John Galloway, D-Bucks, recently introduced H.B. 1339, which would permit communities to provide low-interest loans to property owners looking to convert to sustainable energy products.
House Bill 1339 would allow for the creation of Property Assessed Clean Energy Programs in Pennsylvania.
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PACE Programs would give townships and municipalities in Pennsylvania the option to offer sustainable energy project loans to eligible property owners. Property owners would be able to finance renewable on site generation installations and energy efficiency improvements through voluntary assessments on their property tax bills. These financing arrangements would allow property owners to finance renewable generation and energy efficiency improvements through low-interest loans, repaid through the property owner’s property tax bill.
“This is a real opportunity to spur homeowners and businesses to invest in green energy technologies,” Galloway said. “This bill would eliminate the biggest issue – the high up-front cost of the conversion, while limiting the risk for the local governments by tying the repayment to the annual property tax bills.”
The bill would provide financing for projects such as solar panels installation and high-efficiency HVAC systems.
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To date, 23 states have passed PACE-enabling legislation, and two more allow PACE through existing authority.
The bill has been assigned to the House Environmental Resources and Energy Committee for consideration.
