Senate Bill 113
149th General Assembly (Present)
Becomes effective upon date of signature of the Governor or upon date specified
AN ACT TO AMEND TITLE 29 OF THE DELAWARE CODE RELATING TO A DELAWARE VOLUNTARY CLEAN ENERGY FINANCING PROGRAM THROUGH LOCAL GOVERNMENT ASSESSMENTS.
This bill authorizes the creation of a Delaware Voluntary Property Assessed Clean Energy (D-PACE) program to establish a clean energy financing program for the installation of energy efficiency technologies and clean energy systems for qualifying commercial real properties statewide. PACE programs are authorized in more than 30 states nationwide. The financing will be secured by and payable from a voluntary assessment imposed on the property benefited by the qualifying energy improvement. The bill calls upon the Sustainable Energy Utility (SEU) to administer the program and establish a statewide financing program to aid counties in expanding clean energy projects in their jurisdictions. Projects under D-PACE can be financed through the SEU or other participating financial institutions.