An innovative financing mechanism for achieving the green jobs and carbon cuts mandated in New York was passed last week by the state legislature. The “Power NY Act” funnels energy savings from individual electric bills to the cause of financing energy efficient retrofits on one million buildings and homes.
The win-win-win strategy of “on-bill financing” will create 14,000 living-wage jobs, cut carbon emissions, lower utility bills for working families, and enable moderate-income homeowners to access safe loans for retrofits and use energy savings to repay the loan.
(READ the story in TreeHugger.com)