NE: New law authorizes PACE financing for renewables, efficiency


A new law in Nebraska authorizes PACE financing for energy efficiency and renewables projects, including solar PV. L.B. 1012 allows municipalities to establish, via ordinance, PACE financing programs for commercial properties (including multi-family properties with more than four units), industrial properties, and residential properties with up to four units. The new law authorizes municipalities to issue bonds and seek third-party lending to raise capital to finance such projects. Stricter requirements apply to proposed projects exceeding $250,000 in financing.

L.B. 1012 also authorizes two or more municipalities to jointly implement clean energy assessment districts, while allowing a municipality or multiple municipalities to contract with a third party to administer clean energy assessment districts.