Connecticut House Bill HB06233

Connecticut 2019 Regular Session

• Introduced: 1/25/19
• Refer: 1/25/19

Caption

An Act Creating A Residential Property Assessed Clean Energy Program (r-pace).

Impact

By establishing the R-PACE program, HB 6233 could significantly change the landscape of residential energy efficiency financing in the state. Homeowners would have the option to opt into a financing mechanism that is tied to their property taxes, which could improve accessibility for many individuals who may not afford the high initial costs of energy efficiency upgrades. This transformation could not only reduce overall energy consumption but also potentially increase the value of homes that implement such upgrades.

Summary

House Bill 6233 introduces a new initiative for a Residential Property Assessed Clean Energy (R-PACE) program aimed at enabling homeowners to finance energy-efficient upgrades to their properties. The proposed legislation seeks to amend existing statutes to facilitate funding through property assessments, thereby allowing homeowners to invest in improvements such as solar panel installation, energy-efficient windows, and heating systems without upfront costs. Proponents hope this will enhance energy conservation efforts and contribute to environmental sustainability at the local level.

Contention

However, some stakeholders express concerns about the implications of introducing such a financing mechanism. Critics argue that there could be risks associated with homeowners taking on additional financial burdens through property assessments. There are also discussions surrounding the efficacy of the program and whether it will genuinely improve energy efficiency and reduce environmental impact or merely serve as a financial tool without addressing underlying issues of energy consumption in a holistic manner.