House Passes Energy Efficiency Financing Tool for Homeowners
In an overwhelming majority, the Missouri House passed legislation on April 15th authorizing a program that would help Missouri homeowners make their homes more energy efficient – and pay for the necessary upgrades. Through a proposed financing program that would pay for the initial improvement costs, the Property Assessed Clean Energy (PACE) program is making its way through the Missouri General Assembly. The program would allow municipalities to issue bonds to make loans to homeowners for energy-saving improvements, while giving consumers 20 years to repay. Loans would be assessed on homeowners’ property tax statement and would be transferable if homes are sold.
The program is a critical financing tool that generates and encourages measurable and significant energy savings, efficiency, and less reliance upon imported fossil fuels. Additionally, the upgrades needed across the board to make Missouri’s older homes more energy efficient would create much-needed job development for Missouri’s workers. The bill is HB1871.
Where do you stand on such a program? What are your plans for making your home more energy efficient?
