Wash. bill aims to let local government issue bonds to make EE loans

OLYMPIA – A state legislative hearing will be held this Thursday, Jan. 21, on a bill aimed at unlocking the full job-creating potential of making our homes and businesses more energy efficient.

Lack of up-front financing stymies a great number of money-saving conservation projects in Washington. States from Oregon to New York allow local governments to use their bonding authority to finance energy efficiency upgrades in homes and commercial buildings. Washington state does not.

House Bill 2853, sponsored by Rep. Christine Rolfes (D-Bainbridge Island), will let this state benefit from greater energy savings as well.

“This is a great opportunity to create jobs, cut power consumption and maintain Washington state’s position as a national leader in energy efficiency and the clean-energy economy,” Rep. Rolfes said.

The bill, known as the Energy Efficiency Financing Act, would give municipalities, counties and newly created energy efficiency investment districts the right to issue bonds to finance loans for commercial and residential energy efficiency upgrades. The loans would be repaid through utility or property tax bills.

“Passing this bill will cost Washington taxpayers nothing, but will reward us all with lower utility bills and reduced pollution.” said Washington Environmental Council executive director Joan Crooks.

“It’s time our state got onboard,” said NW Energy Coalition policy associate Carrie Dolwick. “We just can’t ignore these tremendous opportunities for saving energy, for creating good, green jobs and for building a real clean energy economy.”

The House Technology, Energy and Communications committee will hold a hearing on HB 2853 Thursday, Jan. 21, at 10 a.m. in the John L. O’Brien Building’s House Hearing Room B.

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