Local Option - Energy Improvement Loan Program (Wyoming)
Last modified on February 12, 2015.
Financial Incentive Program
|Name||Local Option - Energy Improvement Loan Program (Wyoming)|
|Incentive Type||PACE Financing|
|Eligible Technologies||Other Distributed Generation Technologies, Unspecified technologies, Locally Determined|
|Energy Category||Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs|
|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.|
|Program Administrator||Program administered locally|
Note: The Federal Housing Financing Agency (FHFA) issued a statement in July 2010 concerning the senior lien status associated with most PACE programs.
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.
- Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.