Oregon Statutes 469.633 – Investor-owned utility program
Each investor-owned utility shall have an approved residential energy conservation program that, to the Public Utility Commission’s satisfaction:
Terms Used In Oregon Statutes 469.633
- Interest rate: The amount paid by a borrower to a lender in exchange for the use of the lender's money for a certain period of time. Interest is paid on loans or on debt instruments, such as notes or bonds, either at regular intervals or as part of a lump sum payment when the issue matures. Source: OCC
(1) Makes available to all residential customers of the utility information about:
(a) Energy conservation measures; and
(b) Energy conservation measure financing available to dwelling owners.
(2) Provides within 60 days of a request by a residential customer or a dwelling owner, assistance and technical advice concerning various methods of saving energy in that customer’s or dwelling owner’s dwelling including, but not limited to, an energy audit of the customer’s or dwelling owner’s dwelling.
(3) Provides financing for cost-effective energy conservation measures approved by the commission to a dwelling owner who occupies the dwelling as a residential customer or rents the dwelling to a tenant who is a residential customer. The minimum financing program shall give the dwelling owner a choice between a cash payment and a loan. The dwelling owner may not receive both a cash payment and a loan. Completion of an energy audit of the dwelling offered under the program required by this section or described in ORS § 469.685 shall be a condition of eligibility for either a cash payment or a loan. Unless the commission approves higher levels of assistance, the financing program shall provide:
(a) The following minimum levels of assistance:
(A) A loan for a dwelling owner with approved credit upon the following terms approved by the commission:
(i) A principal amount of up to $5,000;
(ii) For an electric utility, an interest rate that does not exceed six and one-half percent annually or, for a gas utility, an annual interest rate 10 percentage points lower than the rate published by the Federal Housing Administration for Title I property improvement loans (24 C.F.R. § 201.4 (a)) on the date of the loan application, but not lower than six and one-half percent or higher than 12 percent; and
(iii) A reasonable repayment period that does not exceed 10 years; and
(B) A cash payment to a dwelling owner eligible under ORS § 469.641 for the lesser of:
(i) Twenty-five percent of the cost of the energy conservation measures provided in the dwelling; or
(ii) $350.
(b) That an otherwise eligible dwelling owner may obtain up to $5,000 in loans or $350 in cash payments for each dwelling.
(c) That there may be up to two loans or cash payments provided for each dwelling.
(d) That a dwelling owner who acquires a dwelling for which a previous loan was obtained under this section and ORS § 469.631 may obtain a loan or a cash payment for energy conservation measures for the newly acquired dwelling under circumstances including, but not necessarily limited to, when:
(A) The new dwelling owner chooses the same financing option chosen by the previous dwelling owner who obtained financing under ORS § 469.631 to 469.645; and
(B) There remain cost-effective energy conservation measures to be undertaken with regard to the dwelling.
(e) If the commission so determines, that energy conservation measures for any of the following building and improvement activities may not be financed under the financing program:
(A) Construction of a new dwelling; or
(B) If the construction increases or otherwise changes the living space in the dwelling:
(i) An addition or substantial alteration; or
(ii) Remodeling.
(f) If the investor-owned utility so determines, that no cash payment shall be allowed or paid for the cost of energy conservation measures provided more than one year before the date of the application for payment.
(4) Provides for verification through a reasonable number of inspections that energy conservation measures financed by the investor-owned utility are installed. The verification provisions of the residential energy conservation program shall further provide that:
(a) An installation shall be performed in such a workmanlike manner and with such materials as to satisfy prevailing industry standards; and
(b) The investor-owned utility shall provide a post-installation inspection upon the dwelling owner’s request.
(5) For an electric utility, provides, upon the dwelling owner’s request, information relevant to the specific site of a dwelling with access to:
(a) Water resources that have hydroelectric potential;
(b) Wind, which means the natural movement of air at an annual average speed of at least eight miles an hour; or
(c) A resource area known to have geothermal space heating potential.
(6) Provides that the investor-owned utility will mail to a dwelling owner an offer to provide energy conservation measures in accordance with ORS § 469.631 to 469.645 when a tenant who is the residential customer:
(a) Requests that the offer be mailed to the dwelling owner; and
(b) Furnishes the dwelling owner’s name and address with the request. [1981 c.778 § 3; 1985 c.745 § 6; 1989 c.233 § 2; 1991 c.67 § 141; 1991 c.78 § 1]