Wisconsin Senate Bill SB784

Wisconsin 2023-2024 Regular Session

• Introduced: 12/8/23
• Refer: 12/8/23
• Failed: 4/15/24

Caption

On-bill financing of energy improvements and granting rule-making authority. (FE)

Impact

If enacted, SB784 would lead to significant changes in how energy improvements are financed in Wisconsin. The creation of an on-bill financing program acknowledges the financial burden that upfront costs for energy improvements can impose. By facilitating easier financing options, the bill aims to increase participation in energy efficiency programs, which could subsequently lead to reduced energy costs for consumers and a lower carbon footprint for the state overall. The Public Service Commission would be responsible for implementing and overseeing this program and establishing necessary rules.

Summary

Senate Bill 784 was introduced to establish a program under which public utilities can finance energy improvements for residential customers. This bill allows the costs associated with these energy improvements to be recovered through a surcharge on the customer's utility account. The primary aim of the bill is to make energy efficiency upgrades more accessible to homeowners by allowing them to pay for these enhancements over time rather than all at once. This initiative is in line with increasing efforts to promote sustainable and energy-efficient practices among residential consumers.

Contention

Despite its potential benefits, the bill may face scrutiny and debate regarding its implications for consumers and utilities. Concerns may arise about the fairness of the surcharge mechanism and whether it could disproportionately impact low-income households. Additionally, there could be arguments about the effectiveness of such programs in truly achieving long-term energy savings compared to the immediate costs involved. As public utilities take on the role of financing these improvements, questions about their economic exposure and the implications for utility rates may also be points of contention among stakeholders.