Oregon Administrative Rules
Chapter 860 - PUBLIC UTILITY COMMISSION
Division 30 - RESIDENTIAL AND COMMERCIAL ENERGY CONSERVATION
Section 860-030-0015 - Residential Energy Conservation Financing
Universal Citation: OR Admin Rules 860-030-0015
Current through Register Vol. 63, No. 9, September 1, 2024
(1) An eligible dwelling owner may obtain a loan or a cash payment from or through the energy utility for energy conservation measures.
(2) Financing:
(a) The loan shall be made in
accordance with the following terms, conditions, and limitations:
(A) A principal amount of up to
$5,000;
(B) On a loan from or
through an electric company, an interest rate that does not exceed 6.5 percent
annually;
(C) On a loan from or
through a gas utility, an annual interest rate 10 percentage points lower than
the rate published by the Federal Housing Administration for Title I property
improvement loans (24 Code of Federal Regulations (CFR), subsection 201.4(a))
on the date of the loan application, but not lower than 6.5 percent or higher
than 12 percent;
(D) A repayment
period of not more than ten years;
(E) Unless waived by the energy utility, a
minimum monthly payment of not less than $15; and
(F) To eligible dwelling owners with approved
credit.
(b) The cash
payment shall be in the amount of:
(A)
Twenty-five percent of the cost-effective portion of the energy conservation
measures recommended under subsection (2)(c) of this rule, including
installation (but not including the dwelling owner's own labor), not to exceed
the cost of the measure; or
(B)
$350, whichever is less.
(c) Any dwelling owner is eligible for
financing under this rule, provided:
(A) A
valid energy audit preceded the work and established the cost-effective portion
of the recommended measures;
(B)
The measures installed are those recommended by the energy utility;
and
(C) The dwelling has a
space-heating system, installed and operational, which is designed to heat the
living space of the customer's dwelling, and which draws its energy for
operation from the energy utility from which financing is sought.
(d) A dwelling owner who acquires
a dwelling for which a previous loan was obtained under this rule may obtain a
loan or a cash payment for energy conservation measures for the newly acquired
dwelling under circumstances including, but not necessarily limited to, when
there remain cost-effective energy conservation measures to be undertaken with
regard to the dwelling.
(3) An energy utility shall not make a loan or a cash payment for the installation of urea-formaldehyde wall insulation.
Publications: Publications referenced are available from the agency.
Stat. Auth.: ORS 183, 469, 756 & 757
Stats. Implemented: ORS 756.040 & 469.631 - 469.645
Disclaimer: These regulations may not be the most recent version. Oregon may have more current or accurate information. We make no warranties or guarantees about the accuracy, completeness, or adequacy of the information contained on this site or the information linked to on the state site. Please check official sources.
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