ENEWS
Renewable Energy ProjectsRenewable Energy Improvement Financing District
With the high front-end costs of renewable energy improvements, financing often becomes an obstacle for many. The bills authorize local government to offer potential solution to this issue. With the ability to impose and administer a special assessment on real properties, repaying the costs for installing renewable energy improvements may take a different format from conventional financing. There is a possibility that funding in the form of Qualified Energy Conservation Bonds—tax credit bonds--may be accessed from the American Recovery and Reinvestment Act as resource. Other sources of financing options may include taxable bonds, private equity, and tax-exempt bonds. Santa Fe County is currently analyzing how best to develop local policies and program components to support this initiative. We are meeting with various stakeholders including bankers, renewable energy installers, builders, and others in order to get comments and feedback on the process. We are also working closely with the State and The New Mexico Associations of Counties to ensure that Santa Fe County establish a policy and program that serves our public in an effective, accessible and affordable manner. We will continue to place details about the progress of this initiative and frequently asked questions on our website. Currently Boulder County and the City of Berkeley have similar policies and programs in place and they are experiencing well-received participation. The State Bills will take effect July 1, 2009 and we hope to establish and implement local policy and program sometime this summer. Renewable Energy Improvement Financing District FAQ » Renewable Energy Financing District Activities Schedule [PDF 56kb] » Current Activities (June 2009):
If you are interested in learning more about this initiative, or if you would like to place your name on a list for potential eligible applicants, please contact Duncan Sill at dsill@santafecounty.org or fill out the form below. Request More InformationFill out the form below to request more information about how to participate in the program.
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The 2009 New Mexico Legislative Session passed two important bills to enhance opportunities for and encourage local residents and businesses to make renewable energy improvements. Senate Bill 647 (Renewable Energy Financing District Act) and House Bill 572 (Solar Energy Improvement Special Assessment Act), sponsored by Senator Peter Wirth and Representative Brian Egolf, respectively, provides leadership in response to development of renewable energy sources and positively impact the security, economic well-being and public and environmental health of the state, and contributing to energy independence and addressing the issue of climate change.
