Rhode Island General Laws 39-26.5-5. Rights of PACE property owners
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A PACE property owner may enter into a contract for the installation or construction of a project relating to renewable energy as defined in § 39-26-5, or relating to energy efficiency as defined in § 39-1-27.7 or as defined by the Rhode Island infrastructure bank pursuant to regulations authorized under this chapter.
History of Section.
P.L. 2013, ch. 271, § 1; P.L. 2013, ch. 361, § 1; P.L. 2015, ch. 141, art. 14, § 9.
Terms Used In Rhode Island General Laws 39-26.5-5
- Contract: A legal written agreement that becomes binding when signed.
- PACE: is a voluntary financing mechanism that allows both residential and commercial property owners to access affordable, long-term financing for energy upgrades, and other eligible environmental health and environmental safety upgrades on their property. See Rhode Island General Laws 39-26.5-2
- project: means a distinct installation of an eligible energy-efficiency system, renewable energy net-metering system, distributed-generation system, alternative fuel infrastructure upgrade, and/or other eligible environmental health and environmental safety upgrades. See Rhode Island General Laws 39-26.5-2
- property: means any residential property or commercial property that is the subject of an approved application for a PACE project filed pursuant to this chapter. See Rhode Island General Laws 39-26.5-2
- Rhode Island infrastructure bank: means the Rhode Island infrastructure bank ("RIIB"). See Rhode Island General Laws 39-26.5-2