Oregon PACE Financing
How does solar financing in Oregon work?
Local governments across Oregon are now allowed to create their own “local improvement districts.” Each district can provide financing for the installation of renewable-energy systems and energy-efficiency improvements to buildings and homes. The amount borrowed can be repaid through an increased property tax assessment over a period of years. The loans will carry a fixed interest rate and stay with the house- so if you move, the next tenant continues to pay for the loan through property taxes. That means you don’t have to worry about paying for panels on a house that you don’t live in anymore.
That sounds great! How is Oregon able to do this?
Thanks to Oregon’s HB 2626 law, enacted in July 2009, local governments that set up financing districts can offer loan programs to pay back investments in renewable energy systems through property tax payments.
Is solar financing available now?
HB 2626 was enacted in July 2009, so cities and counties have yet to implement their own property tax financing programs, but keep an eye out for local programs popping up across Oregon!
Do you have more info on the status of this municipal solar and energy efficiency financing program? Let us know and we will update this page with your tips.