Local Option - Property Assessed Clean Energy Financing (Arkansas)

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Summary

Last modified on February 12, 2015.

Financial Incentive Program

Place Arkansas

Name Local Option - Property Assessed Clean Energy Financing (Arkansas)
Incentive Type PACE Financing
Applicable Sector Locally determined
Eligible Technologies Photovoltaics, Locally determined
Active Incentive Yes

Implementing Sector State/Territory
Energy Category Energy Efficiency Incentive Programs, Renewable Energy Incentive Programs


























Terms Locally determined



Last DSIRE Review 2013-04-19
Last Substantive Modification
to Summary by DSIRE
2013-04-19


References Database of State Incentives for Renewables and Efficiency (DSIRE)[1]


Summary

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 property taxes, with a special assessment on the property over a period of years. Arkansas authorized PACE financing in 2013 with Senate Bill 640. Specifically, the state, cities, counties, and combinations of cities and counties may create a property assessed energy improvement district by adopting an ordinance and entering into a joint agreement with any other participating governmental bodies. Governmental bodies may also opt into existing districts by adopting an ordinance and entering into a joint agreement with any other participating governmental bodies.

The law requires property assessed energy improvement districts to be operated and controlled by a board of directors, and includes guidance for assembling the board. The law provides additional guidance in some aspects, but leaves a lot of authority with the property assessed energy improvement districts to design their own programs.



      
     
     

Authorities (Please contact the if there are any file problems.)

Authority 1: SB 640

Date Enacted 2013-04-11


















  • Incentive and policy data are reviewed and approved by the N.C. Solar Center's DSIRE project staff.[1]

References

  1. 1.0 1.1  "Database of State Incentives for Renewables and Efficiency (DSIRE)"