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LA's Novel Green Finance Mechanism

Solar and efficiency efforts fed via property taxes.

The Los Angeles Department of Water and Power and LA Mayor Eric Garcetti want consumers to pay for energy efficiency and renewables through its property assessed clean energy program.

The California HERO program paid $239 million to finance 10,000 projects in the Los Angeles area since May 2014, allowing homeowners to pay off the investments with no upfront costs over time through their property tax payments.

An estimated 1.2 billion kilowatt-hours of electricity will be saved over the life of the investments.

“LADWP offers many programs and rebate incentives to help our customers manage their utility use and costs,” said Marcie Edwards, LADWP General Manager.

“To help meet our energy efficiency and local solar goals as a city — and to help our customers save money — we encourage them to learn more about these programs and take advantage of them," she said. "From free energy saving refrigerators, to commercial lighting retrofit, pool pump rebates, and incentives for solar installations, we offer efficiency solutions for all types of customers.”

The Energy Times will hold a major conference in San Francisco on April 6 - The California Renewables Rush - on the future of utilities and state policies as California moves towards more renewables.

 

 

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