The state Public Utilities Commission has approved a program that will finance solar photovoltaic systems and other clean energy improvements for nonprofits, renters and homeowners who can’t afford the upfront installation costs.
Tuesday’s approval follows the PUC’s earlier approval of a financing order in September. The state can now issue up to $150 million in bonds for the Green Energy Market Securitization program.
The PUC’s approval allows the imposition of a Green Infrastructure Fee, which will be used to secure the bonds. The $2 a month fee will appear on all utility ratepayer bills for residential customers.
The Department of Business Economic Development & Tourism plans to issue the bonds by November and make the first clean energy loans by the end of the year.