COSEIA Joins Governor Hickenlooper and State Lawmakers as Energy Efficiency Bill Becomes Law

DENVER- Colorado Solar Energy Industries Association Executive Director Edward Stern joined Senator Matt Jones, Representative Max Tyler, and Representative Mike Foote as Governor John Hickenlooper signed House Bill 1105 into law. The bill, which gives incentives for high-performing new homes and energy retrofits of existing homes, was also sponsored by Senator Gail Schwartz in the Senate. House Bill 1105 sets standards for the Colorado Energy Saving Mortgage program, which administers financing for people purchasing energy-efficient homes or home improvements to increase energy efficiency. Under HB 1105, a property's Home Energy Rating System (HERS) score will help determine the maximum mortgage value. The lower the HERS score, the more energy-efficient the home is. For new homes with a HERS score of zero, the maximum value of the mortgage would be $8,000. For new homes with a higher HERS score, or for home improvements, the Colorado Energy Office (CEO) will determine the maximum mortgage value. Over the past two years, an existing Energy Star mortgage program has provided 188 energy-related mortgages. The programs provide financial incentives for people to purchase energy-efficient homes, and the state will partner with utilities and private lenders under HB 1105 to establish an incentive pool of an expected $1 million or more. "COSEIA was part of the inception of this bill, and it's an honor to be here as it is signed into law," said COSEIA Executive Director Edward Stern. "Thanks to these legislators for working to grow Colorado's renewable energy industry, and thanks to Governor Hickenlooper for supporting this measure." "These programs have great support from the construction and financial sectors, as we continue to work together to keep Colorado at the forefront of renewable energy, clean- tech and energy efficiency policy nationally," said Sen. Gail Schwartz. The bill was crafted with feedback from mortgage lenders and received the support of the Colorado Banking Association. Participating lenders will provide matching funds to double the value of the state's investment. "This is generating a lot of excitement in the marketplace," Rep. Tyler said. "It will drive demand for energy-efficient homes and help our housing and clean-tech industries grow and create jobs." "This bill is a win-win-win," Rep. Foote said. "Clean-energy jobs will get a boost, consumers will see lower energy costs and Colorado will benefit from cleaner air, water and land."