Oregon Statutes 470.700 – Use of loan offset grant moneys; alternate mechanisms
(1) The State Department of Energy may use loan offset grant moneys for any of the following if, in the absence of the grant moneys, a utility customer would incur higher overall monthly costs when energy costs and small scale local energy project costs are considered:
Terms Used In Oregon Statutes 470.700
- 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
- Energy efficiency and sustainable technology loan: means a loan for a small scale local energy project that is repayable by means of:
(a) A charge included with the participant's utility customer account billing; or
(b) An alternative repayment method identified by the department and the borrower and specified in the loan agreement. 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
- Loan offset grant: means moneys from the Jobs, Energy and Schools Fund that are used to help offset the initial project costs or loan payments for energy efficiency, renewable energy and energy conservation projects. See Oregon Statutes 470.050
- Optional package: means measures for promoting energy efficiency or the use of renewable energy:
(a) That are in addition to the measures described in the customer's base efficiency package;
(b) For which a customer has the ability to repay; and
(c) That the sustainable energy project manager believes to be feasible for the site. See Oregon Statutes 470.050
- Person: includes individuals, corporations, associations, firms, partnerships, limited liability companies and joint stock companies. See Oregon Statutes 174.100
- Small scale local energy program loan: means a loan for a small scale local energy project other than an energy efficiency and sustainable technology loan. See Oregon Statutes 470.050
- Small scale local energy project: means any of the following:
(a) A system, mechanism or series of mechanisms located primarily in Oregon that directly or indirectly uses or enables the use of, by the applicant or another person, renewable resources including, but not limited to, solar, wind, geothermal, biomass, waste heat or water resources to produce energy, including heat, electricity and substitute fuels, to meet a local community or regional energy need in this state. See Oregon Statutes 470.050
(a) Offsetting the cost of an approved small scale local energy project.
(b) Reducing the loan repayment burden of an energy efficiency and sustainable technology loan borrower.
(c) Creating a financial incentive for energy efficiency, renewable energy and energy conservation projects that may not result in significant energy cost savings.
(d) Providing support, in coordination with the Oregon Innovation Council or other sustainable energy technology research bodies or companies, for small scale local energy projects that use nontraditional technology.
(2) If a small scale local energy program loan applicant is a person with an income limited as described in ORS § 470.650 (2), the department may use loan offset grant moneys for an optional package or to offset reasonable costs associated with structural improvements that are not included in the base efficiency package, but that are necessary to the proper installation of the base efficiency package.
(3) The Director of the State Department of Energy may investigate and test the feasibility of using mechanisms other than the disbursing of Jobs, Energy and Schools Fund moneys for accomplishing the purposes described in subsection (1) of this section. [2009 c.753 § 40; 2011 c.467 § 17]
(Miscellaneous)