New York Passes Historic Green Jobs Financing Law

[Ben J. Gromicko]

The new law enables homeowners to access loans for retrofits, and use energy savings to repay the loan via their utility bills.

Property owners will pay back the loan as a line item on their utility bill over time; the monthly repayment will be calibrated to the energy savings so that the loan doesn’t increase the bill.

The energy authority awarded $6 million in outreach funds to community groups, whose success in recruiting customers and jobs depends largely on on-bill financing.

http://www.longislandpress.com/2011/...financing-law/

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