Oregon Statutes 470.655 – Project initiation fee; base efficiency package fee; rules
(1) Except as provided in ORS § 470.650, an applicant for an energy efficiency and sustainable technology loan approved by the State Department of Energy shall pay the department a project initiation fee. Upon request of the loan applicant, the department may add all or part of a project initiation fee to the principal of an issued loan. The department may establish the fee amount by rule, not to exceed four percent of the approved loan amount. If the department does not establish the fee amount, the fee shall be two percent of the approved loan amount.
Terms Used In Oregon Statutes 470.655
- Applicant: means an applicant for a loan to construct a small scale local energy project. See Oregon Statutes 470.050
- Base efficiency package: means the package of energy efficiency upgrades or renewable energy projects for a property that, when energy savings, project repayment costs, tax or other incentives, loan offset grants and other relevant economic factors are considered, is estimated to not increase the utility bill of the customer over the loan repayment term. See Oregon Statutes 470.050
- Director: means the Director of the State Department of Energy appointed under ORS § 469. See Oregon Statutes 470.050
- Loan: includes the purchase or other acquisition of evidence of indebtedness and money used for the purchase or other acquisition of evidence of indebtedness. See Oregon Statutes 470.050
(2) The Director of the State Department of Energy may by rule establish a base efficiency package fee for energy efficiency and sustainable technology loans if the loans are not financed by moneys from the Jobs, Energy and Schools Fund. The fee may not exceed 10 percent of the estimated economic benefit for the base efficiency package. Any fees collected by the department under this subsection shall be deposited in the fund. [2009 c.753 § 31; 2010 c.92 § 4; 2011 c.467 § 16]
(On-Bill Financing)