The New York state legislature returned Monday, November 29th and on their plate is residential energy efficiency, in the form of On-Bill Financing legislation. The proposed bill would allow homeowners to borrow the money needed to cover the upfront costs of efficiency improvements, repaying those loans through a small monthly charge on their utility bills. As the Center for Working Families (CWF) notes, “With On-Bill Recovery financing, the monthly repayment amount billed to homeowners [for the loan] would be the same as (or even less than) the amount they’re saving by using less energy.” Only those improvements that pay for themselves would be permitted under the program and loans would be made at no cost to the state of New York. In the event of a home being sold, the new owners would take over the payments and reap the benefits of the previously installed efficiency upgrades.
Sounds like PACE.
Saving energy is a farce. Anytime you stop using something, or use less of it, the demand for the item goes lower. Companies then have no choice but to raise their prices, to meet the demands of company share holders.
Utility companies will not lose money. If anyone saves energy, utility companies will have no choice but to raise rates. It is a ploy, and consumers will pay big time.
Very few homeowners will spend thousands to upgrade their homes for energy efficiency reasons, when it will not add value to the home. There is no benefit to the consumer; only money to be made from the contractors and the utility companies. Read the fine print.
That’s happening right now (since 2009) here in Kansas.