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Energy:
Financing Renewable Energy Projects

Our Position: support
Bill Number: HB1350
Sponsor: Representative Madden and Senator Romer
Legislative Session: 2008

This bill would allow local communities to finance renewable energy projects, as well as finance the clean energy development authority.

Status

03/03/08 Introduced in the House - assigned to the Transportation and Energy Committee

04/01/08 Passed the House Transportation and Energy Committee by a unanimous vote!

04/04/08 Passed Second Reading in the House

04/07/08 Passed Third Reading in the House

04/08/08 Introduced in the Senate - assigned to the Senate Local Government Committee

04/29/08 Passed Senate Local Government Committee

05/02/08 Scheduled for Second Reading in the Senate

Action Needed

Please contact your State Senator and ask them to support HB1350.

To find your State Senator, go to: Project Vote Smart and enter your ZIP code.

To see a full copy of the bill as a PDF, go to HB 1350.

Background

Renewable energy is an important rising form of energy that is crucial to easing our dependence on foreign oil and to helping sustain the environment. Unfortunately the upfront costs of installing renewable energy projects are often too high for most Colorado homeowners and small businesses. Even with rebates and incentives, the upfront costs are too much for many of us to afford.

This bill would help give all Coloradans the opportunity of affording renewable energy by offering low- and no- interest loans for renewable energy projects, such as installing solar panels or wind turbines. Customers can additionally choose to pay back the loan through a property lien. In this way, local governments are promoting renewable energy by helping their citizens with the high upfront costs. There are no other programs like this in the country and it could have a profound affect in the future of Coloradans and Americans nationwide.