Colorado
Incentives/Policies for Renewables & Efficiency
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Last DSIRE Review: 07/16/2009
| Incentive Type: |
Property Tax Financing Authorization |
| State: |
Colorado |
| Eligible Efficiency Technologies: |
Lighting,
Lighting Controls/Sensors,
Heat pumps,
Air conditioners,
Heat recovery,
Energy Mgmt. Systems/Building Controls,
Caulking/Weather-stripping,
Building Insulation,
Windows,
Doors
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| Eligible Renewable/Other Technologies: |
Solar Water Heat,
Solar Thermal Electric,
Photovoltaics,
Wind,
Biomass,
Geothermal Electric,
Geothermal Heat Pumps,
Daylighting,
Small Hydroelectric,
Ethanol,
Biodiesel,
Fuel Cells using Renewable Fuels
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| Applicable Sectors: |
Commercial,
Industrial,
Residential,
Multi-Family Residential,
Low-Income Residential,
Agricultural,
Institutional
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| Financing Terms: | Financing may not exceed $12,500 per residence/unit; other financing terms locally determined
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| Eligible Local Governments: | Local Improvement Districts initiated by Colorado Clean Energy Development Authority board of directors
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| Possible Revenue Sources: | Bond issuance, independent lending institutions, contracts, gifts, grants, donations, revenues from public utilities, financed project repayments
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Web Site: |
http://www.colorado.gov/
energy/index.php?/utilities/clean-energy-development-authority
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Authority 1:
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S.B. 184
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| Date Enacted: | 5/27/2008 |
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Summary:
"Property tax financing" allows property owners to borrow money to pay for energy improvements. The amount borrowed is repaid through an increased property tax assessment over a period of years. Colorado enacted legislation in May 2008 (H.B. 1350) that authorizes the Colorado Clean Energy Development Authority (CEDA) to establish "Clean Energy Finance Districts" in the state.* Voter approval is required to establish a district, and the state treasurer must approve a local government's proposed financing measures. Contact your local government to find out if it offers financing for renewable energy and/or energy efficiency through special property tax assessments.
CEDA helps local governments create Clean Energy Finance Districts in order to finance eligible renewable-energy projects or energy-efficiency improvements by property owners. Eligible technologies include: - Solar water heating
- Solar thermal-electric
- Photovoltaics (PV)
- Wind
- Biomass
- Hydroelectric
- Geothermal-electric
- Biodiesel and ethanol
- Fuel cells that do not use fossil fuels
- Insulation
- Windows and doors
- Automatic energy control systems
- HVAC systems
- Caulking and weather stripping
- Lighting
- Daylighting
- Energy-recovery systems
- Geothermal heat pumps
Participating districts may create funds using money from bonds, financing agreements, contracts, agreements, gifts, grants, donations, and/or revenues from public utilities and financed projects. Property owners within a Clean Energy Finance District may execute a contract for a loan, which is payable at intervals established in the special assessment. The amount financed may be assessed and increased at any point before the completion of eligible energy improvements. All moneys collected from the assessments for any improvement may only be used to fund reserve accounts for the payment of bonds issued until the principal and interest are paid for all of the bonds.
In Colorado, Boulder County was the first county to implement a program utilizing this property tax financing mechanism. See Boulder County ClimateSmart Loan Program)
* CEDA is an independent public body separate from other state agencies. It consists of the director of the Colorado Office of Economic Development, the commissioner of agriculture, five members appointed by the governor and legislative party leaders, and the director of the Governor's Energy Office.
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Please note: The information on the DSIRE web site provides an overview of incentives and other policies, but it should not be used as the only source of information when making purchasing decisions, investment decisions, tax decisions or other binding agreements. Please refer to the individual contact provided in each record to verify that a specific incentive or other policy is applicable to your specific project.
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